Financial Institutions Study Guide

Michael is considering opening an account at a local bank. Which services is the bank likely to offer?

• balance and net deposit

• savings and checking accounts

• advertising and Web searches

• time management

Emma bought a house. What is this an example of?

• property that the government owns

• property that is free

• property that no one can see

• property that you own

Zoe is filling out a bank application. What is required on the application?

• transaction list

• full name

• checkbook number

• health ID number

Elijah wants to start a new store. Which bank service does he need for money?

• business loan

• savings account

• safe deposit box

• electronic payment

Grace is visiting JA BizTown, a simulated city where students learn about the economy. Which type of institution is at the center of JA BizTown's economy?

• educational

• entrepreneurial

• financial

• social

Which action is required when depositing money into an account?

• Include an account number

• List your income

• Swipe your credit card

• Sign your deposit ticket

What is the purpose of a paycheck?

• To show proof of income

• to be sure you have money

• To keep track of withdrawls

• To give you money in exchange for work

Where do you endorse a paycheck?

• On the back

• In the memo section

• In the money tracker

• After the "Pay of Order of"

What happens when you have insufficient funds in your bank account?

• Required withdrawl

• Record transaction

• high fee

• Electronic Payment

Which is a responsible action to make with your money?

• Spend it

• Track it

• Give it all away

• Nothing