Paid by banks to their depositors, and paid by borrowers to the institutions that provide their loans

A bank account that allows the account holder to withdraw money, pay a bill, or make a purchase online, using a debit card, or by writing checks.

A preprinted form ordering a bank to withdraw money from an account and pay it to someone else.

Plastic card used to withdraw cash from a checking or savings account, or make payments electronically.

This is the most common type of financial institution, is usually privately owned, offers a wide range of services, run to make a profit, and is relied heavily upon for successful economic activity.

Commercial banks are closely regulated by a NUMBER of government agencies...which of the following? (Can be more than one)

These banks are non-profit financial institutions that are owned by their members, organized for the members' benefit, and the members usually share something in common.

These financial institutions make small, short-term, high interest loans to tide a person over until needed.

Which of these is not true about pay day lenders?

An addition of funds to an account balance.

The removal of cash from an account, either at the bank or at an ATM.

Any transaction that removes funds from an account, including cash withdrawals, checks written on the account, and fees charged by the bank.

Any positive addition to an account.

A movement of funds from one account to another.

A temporary transfer of funds from one person or company to another, to be repaid over time with additional money paid as interest.

The electronic system for transferring money between banks is called the...

True or False: More than 50% of all consumer transactions are now done with credit and debit cards.

True or False: Electronic monetary transfers are much less efficient and occur much slower than before with paper checks.

True or False: Free Checking Accounts do not require a minimum balance and can't charge maintenance or activity fees.

True or False: Basic or low-activity checking accounts may charge a small monthly fee and may limit the number of checks you can write each month without and additional fee.

When you "charge" or spend more money than what you have available in your checking account, you may be charged a...

True or False: In most cases, interest earning checking accounts don't require a minimum balance, but pay interest on top of what you have for a balance.

If you want to open a checking account for you kid so you may monitor the money coming in and out of the account, you would likely open a(n)...

True or False: If you have a joint checking account, the responsibility of fees and other miscellaneous items can fall on the other person tied to the account.

True or False: In a business checking account, money can't be transferred to a personal checking account.

An emergency fund is...

General rule of thumb is to have ________ of expenses saved up for an emergency.

Which of these would be good examples of emergencies to have money set aside for? (may be more than one answer)

True or False: Charging for items such as furniture or a car isn't really much more expensive than having the cash ready for it.

A savings alternative in which money is left on deposit for a stated period of time to earn a specific rate of interest.

Type of savings account that invests in securities

Non-transferable bond issued by the government initially sold at half their face value.

True or False: You can transfer ownership of a savings bond.

Figuring interest earnings on both the original amount AND any previous interest that has been added to the balance is known as...

The amount of interest that a deposit would earn after compounding for one year, expressed as a percentage, is known as...

The Rule of 72 states...

If you have a $100 deposit, 5% annual interest rate compounded monthly, and at the end of the year you have $105.12 in your account, your APY is...

An investment in the ownership of a corporation, usually represented by shares of the business

Company earnings distributed to shareholders, usually in the form of money or stock

A stock whose owner has voting rights and receives dividends based on company profits, paid out after preferred stockholders receive their dividends.

A stock whose owner has no voting rights, but receives a fixed dividend, paid before common stockholders receive their dividends

This stock pays the same amount to the shareholder no matter how much the company is or is not making

This stock will yield higher returns if the company has major profits for the year.

NYSE stands for what?

Which of these is a major stock market in the United States? (may be more than one answer)

Safe investments in the ownership of large, respected, and well-established companies

Condition that exists when investors are optimistic about the economy and the market goes up.

Condition that exists when investors are pessimistic about the economy and the market goes down

Contracts to buy or sell a specific commodity, stock, or other financial instrument at a set price on a set date in the future.

Bulk items such as grains, metals, and food that are bought and sold on an exchange.

Contracts that give the owner the right, but not the obligation, to buy or sell a stock or commodity at a set price on or before a specified date.

Which statement or statements are true about Penny Stocks?

A promise to pay a certain amount on a certain date, issued by a corporation or government for the purpose of borrowing money

Can be purchased at a bank or other financial institution for half its face value

An investment in which people pool their money to buy stocks, bonds, real estate, or other assets selected by professional managers

Usually a small market and worth more to the people that own it.