Task 1

When you borrow money to pay for your purchases you are using a

• Debit Card

• Credit Card

• Gift Card

• Savings account

What is a gift card? (Select All)

• Money comes out of your bank account whenever you use it

• Money is loaded onto the card and stored on it

• Money is borrowed from the bank when you use it

• Sometimes it can only be used at one specific store

Which type of card would you give someone else?

• Debit Card

• Savings Card

• Gift Card

• Credit card

Which type of card takes money directly from your bank account?

• Credit

• Debit

• Savings

• Gift

What type of card is most likely going to require a PIN number in order to make purchases? (Select the BEST answer)

• Credit

• Debit

• Gift

• Savings

If you lose this type of card there is no way of getting your money back?

• Credit

• Debit

• Gift

• Savings

How do banks get back the money that they loan you when you make a credit card purchase?

What is interest on a credit card?

• Money that you spend on your credit card

• Extra money that you owe from not paying your credit card bill.

• Money taken off of your credit card bill when you pay on time.

What account allows you to deposit money to keep into the account that you will not be spending?

• Debit

• Credit

• Interest

• Savings

What are some reasons that a person may want a savings account?