PBMF Ch 19 Quiz

A ​ (a)   ​ (b)   is a record of checks, ATM transactions, deposits, and charges on an account. (19.1)

• bank
• statement
• financial
• plan
• account

The person, business, or organization to whom a check is written is the _____. (19.1)

• payee
• endorser
• drawer
• issuer

​ (a)   is purchasing a financial product or valuable item with the goal of increasing wealth over time in spite of possible loss. (19.2)

• Investing
• Borrowing
• Accounting

Which is the process of spreading risk by putting money in a variety of investments? (19.2)

• Concentration
• Consolidation
• Diversification
• Specialization

A check written for an amount greater than the balance of the account is called a(n) _____. (19.1)

• overdraft check
• unbalanced check

• exceeded check
• great check

The assets and liabilities a person leaves when he or she dies is their _____. (19.2)

• legacy
• estate
• inheritance
• fortune

A ​ (a)   ​ (b)   is an investment created by pooling the money of many people and investing it in a collection of securities. (19.2)

• mutual
• fund
• stock
• bond
• index

Which is a type of savings account that requires a higher minimum balance than a regular savings

account, but offers a higher interest rate? (19.2)

• Standard Account

• Money Market Account

• Basic Account

• Mutual Fund

A ​ (a)   ​ (b)   is a strategy for using money to reach important goals and to advance financial security. (19.1)

• savings
• plan
• investing
• debt
• expenses
• idea

A ______ is a payment order for a specific amount of money payable to a specific payee. (19.1)

• mutual fund

• check

• debit

• money order