PF- Banking and Credit Review

Which account is usually to your checks and direct deposit, and is for money coming in and out?

• Checking Account

• Savings Account

Which account is meant to accumulate a small amount of interest and houses your money for future needs?

• Checking Account

• Savings Account

The initial deposit interest is collected on is called the

• Minimum Balance

• Principal

• Introductory Rate

• Interest

Which of the following is a savings option?

• Money Market Account

• Certificates of Deposit

• IRA (individual retirement account)

• All of the above

The FDIC stands for the

• Federal Deposit Institution Corporation

• Federal Deposit Insurance Corporation

• Federal Deduction Insurance Corporation

This type of credit requires payment of a fixed monthly amount (or more), until the principal is paid off in full

• Non-Revolving Credit

• Revolving Credit

• Secured Credit

• Unsecured Credit

This type of credit refers to loans secured by an asset (collateral)

• Non-Revolving Credit

• Revolving Credit

• Secured Credit

• Unsecured Credit

Credit cards represent ___________ while a mortgage represents _______

• Revolving Credit... Non-Revolving Credit

• Non-Revolving Credit... Revolving Credit

A FICO score is a number

• Between 0 and 800

• Between 100 and 800

• Between 300 and 800

• Between 300 and 850

Which number represents who you are paying the check to?

• 2

• 4

• 6

• 8