Financial Responsibility Quiz

Maeve is buying groceries and does not have enough cash to pay for her purchase. Which of the following should Maeve use to withdraw money from her bank account to pay for the groceries?

• Credit card

• Debit card

• Grace period

• Treasury bond

What percentage of Americans use a credit or debit card for at least some of their purchases?

• 80-90%

• 50-69%

• 30-40%

• 10-20%

Who are Authorized Users in the context of credit cards?

• A. Persons who issue credit cards

• B. Persons given permission to use a credit card account

• C. Persons who collect credit card payments

• D. Persons who monitor credit card transactions

When using a debit card to buy something, where does the money come from?

• A Certificate of Deposit

• A checking account

• A stock account

• A savings account

Which of the following established the Federal Deposit Insurance Corporation or FDIC?

• The Securities Exchange Act

• The Federal Trade Commission Act

• The Banking Act

• The Federal Reserve Act

Investment accounts enable an individual or organization to invest money with an investment banker who will attempt to make a return or __________ on an investment. Investment accounts involve risk because a return or profit is not guaranteed.

• guaranteed

• invest

• profit

• risk

Financial responsibility is effectively managing your money by making wise financial decisions and not having a financial plan.

• True

• False