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    Finding The Financial Facts

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    Finding The Financial Facts

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    api-509516948
    77 views2 pages

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    © All Rights Reserved
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    77 views2 pages

    Finding The Financial Facts

    Uploaded by

    api-509516948

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    You are on page 1of 2

    2.7.2.

    A1

    Finding the Financial Facts


    Total Points Earned Name ______________________
    18 Total Points Possible Date ______________________
    Percentage
    Class ______________________

    Directions: Match the following terms on the left with their definitions on the right. Each question is worth 1
    point.

    _____ 1. A business that offers and sells financial services to people. A. Deposit

    _____ 2. The most common type of depository institution. B. Depository Institution

    _____ 3. Money put into an account. C. Withdraw

    _____ 4. Money taken out of an account. D. Commercial Bank

    Directions: Circle True or False for the following statements. Each question is worth 1 point.

    True/False 5. A checking account is a very common type of account that offers safety and convenience.

    True/False 6. Most checking accounts do not pay interest.

    True/False 7. Checks and debit cards can be used to withdraw funds or make purchases from a checking
    account.

    True/False 8. An individual can “bounce a check” if he/she has sufficient funds in a checking account.

    True/False 9. Using a PIN (Personal Identification Number) is optional when using a debit card.

    True/False 10. Check 21 allows individuals to bounce checks easily.

    True/False 11. To open a checking account, an individual must complete a signature authorization card
    and make an initial deposit.

    True/False 12. An interest earning checking account does earn a small amount of interest.

    © Family Economics & Financial Education – May 2010 – Get Ready to Take Charge of Your Finances – Depository Institution Discovery – Page 7
    Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona
    2.7.2.A1

    Directions: Match the following type of savings tool on the left with the various characteristics on the right.
    Each savings tool will have two characteristics to match. Each question is worth two points.

    _____ 13. Savings Account A. Can withdraw money through an unlimited


    number of transactions each month.
    _____ B. If money is withdrawn early, the owner must pay
    a penalty fee.

    _____ 14. Money Market Deposit Account C. Money must remain in this tool for a specific
    period of time.
    _____ D. Using checks or a debit card are two ways money
    can be withdrawn.
    E. The account usually requires more money than a
    _____ 15. Certificate of Deposit (CD) savings account to open.
    _____ F. This account pays the least amount of interest.

    © Family Economics & Financial Education – May 2010 – Get Ready to Take Charge of Your Finances – Depository Institution Discovery – Page 8
    Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

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