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Assessment - Financial Literacy Flashcards | StudBud
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Assessment - Financial Literacy
Assessment - Financial Literacy
17 terms
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Flashcards
17 cards
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Practice quiz
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Questions
17
Answers
1
Debit cards are linked to a bank account with your own money.
False
True
2
What are the 2 types of banks accounts?
Budget and spending
Deposit and withdrawal
Checking and savings
3
What is a service fee?
money the bank pays you for having a bank account
money you pay for using the banks services
4
What is a budget?
buying whatever you want
Making a plan for spending your money
creating a grocery list
5
What is financial literacy?
Understanding how money works.
Learning about money during Language Arts.
Having Lots of money.
6
A credit card allows you to..
pay friends back when you owe them money
borrow from the bank and pay it back later
buy things online without ever having to pay for them.
7
What happens if you do not pay the full amount owed on your credit card?
The card gets canceled
You get charged extra fees
You no longer have to pay it
The bank pays it for you
8
What is a deposit?
Taking money out of a bank account
Putting money into a bank account
9
Canada's first and was the bank of Montreal
False
True
10
Prepaid cards have a fixed amount of money.
True
False
11
Credit cards...
have unlimited money
are the same as debit cards
have to be repaid
12
What is online banking?
Going to the bank in person
Accessing your bank account through the internet
13
I should compare prices of things before I buy them
False
True
14
I can buy my wants before my needs
False
True
15
What is a withdrawal?
Putting money into a bank account
Taking money out of a bank account
16
Which is an example of physical currency?
Credit Cards
Debit cards
E-transfers
Bills and coins
17
A _________ is a digital way to send money from one person to another.
E-transfer
Debit Card
Bank account
Prepaid card
