Basic Financial Terms Quiz

What is an account?

• A plan for spending based on income.

• A signed paper for transferring money.

• A place for you to keep money at a bank or credit union.

• A person who assists with bank transactions.

What does a check do?

• Records money owed for utilities and debts.

• Tells a bank to give someone a specific amount of money from your account.

• Withdraws money from your account to pay for items.

• Allows borrowing up to a certain limit.

What is the purpose of a debit card?

• To deposit money into an account.

• To help customers with their accounts at a bank.

• To withdraw money from your checking account to pay for something.

• To borrow money and pay it back with interest.

What is a budget?

• A document that authorizes payment from a bank.

• A place to store money at a financial institution.

• A plan for how much you want to spend in different areas based on how much money you make.

• A card used for borrowing money.

Who is a teller?

• The person who works at a bank or credit union and helps customers with their accounts.

• A plan for financial expenditure.

• A type of bank account.

• A method to transfer funds electronically.