W!SE Terms

Quiz
•
Business
•
9th - 12th Grade
•
Hard
Quizizz Content
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Minimum balance required
The highest amount of money that can be withdrawn from an account.
The lowest amount of money that must be maintained in an account to avoid fees.
The average amount of money that should be deposited monthly.
The total amount of money that can be held in a savings account.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Check fraud
The act of using a check to commit fraud, such as writing a check on a closed account.
A legitimate transaction involving a check.
The process of verifying the authenticity of a check.
A method of transferring funds electronically.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Cashless society
An economic state where financial transactions are conducted through digital means rather than physical cash.
A society where cash is the only accepted form of payment.
A system where all transactions are monitored by the government.
A community that exclusively uses cryptocurrency for all transactions.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Garnishment
A legal process through which a portion of a person's earnings is withheld for the payment of a debt.
A method of collecting taxes from individuals.
A type of loan that requires collateral.
A legal term for bankruptcy proceedings.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Long-term goal
A financial objective that is set to be achieved over a longer period, typically several years.
A short-term financial target that can be achieved within a few months.
An immediate financial need that requires urgent attention.
A financial plan that is revised annually.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Commercial bank
A financial institution that offers services to the general public and businesses.
A type of bank that only serves government entities.
A bank that specializes in investment services for high-net-worth individuals.
A financial institution that only provides loans to small businesses.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
United States Treasury Dept.
The government department responsible for managing federal finances, collecting taxes, and producing currency.
A federal agency that oversees national parks and wildlife.
The department in charge of foreign affairs and diplomacy.
An organization that regulates interstate commerce and trade.
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