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Personal Finance Study Guide Chap3

Total questions: 25

Worksheet time: 13mins

Name
Class
Date
1.

Length of a loan

a)

annuity

b)

Term

c)

interest

d)

period

2.

A time deposit or savings certificate

a)

money market

b)

annuity

c)

Certificate of Deposit

d)

Savings Account

3.

A series of payments made at regular intervals

a)

CD

b)

Money Market

c)

Electronic Funds Transfer

d)

annuity

4.

A check issued but not yet received by the bank

a)

voided check

b)

canceled check

c)

outstanding check

d)

direct deposit check

5.

Money paid to an individual or institution for the privilege of using their money.

a)

interest

b)

service charge

c)

EFT

d)

direct deposit

6.

A check that cleared the bank and is now complete

a)

outstanding check

b)

voided check

c)

direct deposit

d)

cancelled check

7.

Bank charge for handling your checking account

a)

service charge

b)

interest

c)

annuity

d)

deposit

8.

banking service that allows you to do your banking by using your personal computer and the internet.

a)

bank statement

b)

online banking

c)

check register

d)

Automated Teller Machine

9.

Monthly report to a depositor showing deposits, payments, and balance in your checking account.

a)

check register

b)

EFT

c)

certificate of deposit

d)

bank statement

10.

A form used to list all money deposited into the bank

a)

check register

b)

bank statement

c)

deposit slip

d)

annuity

11.

The difference between the original principal and the compound amount

a)

money market

b)

interest

c)

term

d)

compound interest

12.

Not having enough money in your bank to cover you check

a)

insufficient funds

b)

voided check

c)

outstanding

d)

annuity

13.

A record you keep of deposits and checks and other transactions affecting your account

a)

CD

b)

bank statment

c)

deposit slip

d)

check register

14.

When funds are withdrawn from one account and deposited into another using computers

a)

ATM

b)

Direct Deposit

c)

EFT

d)

CD

15.

A computer system that lets you withdraw or deposit money in your bank account without a teller

a)

EFT

b)

ATM

c)

CD

d)

MM

16.

Transferring funds by a company directly into their employees bank accounts without writing any checks

a)

ATM

b)

Direct Deposit

c)

annuity

d)

EFT

17.

The term that describes the numerical value where the interest rate and number of periods meet in a compound interest table is the

a)

interest value

b)

periodic rate

c)

mulitplier

d)

factor

18.

Which of the following is not a heading in a check register

a)

check number

b)

interest rate

c)

balance

d)

transaction

19.

Which of the following is the best example of an outstanding transaction

a)

a cancelled check that has been returned by the bank

b)

a check recorded in the register but not on the statement

c)

an ATM withdrawal that has not been recorded in the check register

d)

None of the above

20.

An account has an 8% annual interest rate.  What is its monthly rate?

a)

2%

b)

.66%

c)

4%

d)

8%

21.

A CD is compounded quarterly for four years. How many times is it compounded?

a)

once

b)

four times

c)

sixteen times

d)

twelve times

22.

A formula that can be used to solve for interest is?

a)

Pincipal / Rate X Time

b)

Time X Rate X Principal

c)

Rate / Time + Principal

d)

none of the above

23.

Which of the following best describes this situation: You have to put money in today to be able to make payments for the next two years.

a)

Future Value Annuity

b)

Present Value Annuity

c)

Term

d)

Money Market

24.

What is Mrs. Campbell's favorite NFL Team

a)

Chiefs

b)

Broncos

c)

Raiders

d)

Patriots

25.

Mrs. Campbell had how many kids all together?

a)

3

b)

5

c)

2

d)

6