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Urbana-FM1-Saving
Saving
| Question | Answer |
|---|---|
| A portion of income that is NOT spent is? | Savings |
| The safest way to save money? | In an account with a financial institution |
| What pays higher interest than a savings account, Money can be taken out at anytime. Has limited transactions each month but comes with a checking account or debit card? | Money Market |
| What is a C.D.? | Certificate of Deposit |
| What pays the highest interest but money CANNOT be taken out until a specific date or time? | C.D. |
| What pays the lowest interest but allows you to withdraw money at anytime? | Savings Account |
| Money lent to an individual trusting it will be paid back is? | Credit |
| If an individual uses credit & does not pay the required amount by the due date, what are they are charged? | Late payment fee |
| What is convenient, don't need cash, & good for emergencies? | Credit Card |
| Sign the back," Please See ID", tear up credit card applications received in the mail, close unused accounts, report lost or stolen cards immediately | Ways to prevent identity theft |
| What are you liable for If a credit card is lost or stolen and reported with in 2 days? | $50 |
| Funds in a checking account can be accessed by using? | ATM |
| What is an ATM? | Computer Terminal which offers automated banking |
| Debit cards are beneficial because? | You can carry less cash |
| One advantage to electronic banking? | 24 hour access |
| To bank from home you can use? | phone & computer |
| Not signing the back of a debit card, keeping pin number with the card, not saving receipts, giving out your pin number. are? | unsafe practices |
| Withdraws money immediately out of your account. | Debit card |
| Used to make a purchase on credit to be paid later | Credit card |
| What are the benefits of direct deposit/direct payments? | Safe, prevents check fraud, money goes to your specific account without paper or need for authorization |
| The downside of using a payroll card is? | If lost or stolen, anyone can use it |
| Banking by using a phone, computer or swiping your card at a POS Terminal in stores, restaurants and video rental boxes is called? | E-banking |
| Checking, savings accounts, loans, investment and financial counseling are services offered by? | Depository Institutions |
Created by:
sfleece
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