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Financial Terms and Concepts

Authored by Wayground Content

Business

9th - 12th Grade

Used 20+ times

Financial Terms and Concepts
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Check Register

A tool for tracking stock market investments.

A record that allows you to keep track of checks you have written, ATM/debit card transactions, as well as deposits and withdrawals.

A document used for filing taxes annually.

A ledger for recording business expenses.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Debit Card

A card that allows you to borrow money from a bank for purchases.

A card that is directly connected to your checking account; it enables you to conduct ATM transactions and to make purchases instead of using cash or writing a check.

A card that rewards you with points for every purchase made.

A card that can only be used for online transactions.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Interest

A fee paid to you for keeping your money in an account OR a fee charged to you for a loan or credit card.

A tax imposed on savings accounts.

A penalty for withdrawing money early from a savings account.

A reward for maintaining a high balance in your account.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit Card

A card that allows the holder to make purchases without cash by borrowing money.

A card that provides cash back on all purchases.

A card that can only be used for online shopping.

A card that requires a high annual fee to maintain.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Bank Statement

A document that summarizes your account balance at the end of the year.

A monthly document prepared by your financial institution which shows all of the transactions related to your account.

A report that details your credit score and history.

A summary of your investment portfolio performance.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Money Market Savings Account

A type of savings account that may allow debit card and check writing privileges.

A checking account with no minimum balance requirements.

An investment account that offers high returns with high risk.

A type of savings account that only allows online transactions.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Transaction Fee

A fee charged for exceeding the federal limit of six free withdrawals and transfers per month.

A fee for maintaining a minimum balance in your savings account.

A fee applied to all transactions made with a debit card.

A fee for closing your savings account before a certain period.

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