When you make a withdrawal from your account you should

subtract that amount from your balance

what is NOT true about money?

If you run out of money, just borrow more from the bank

Insures the money that borrowers have in their banks

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MONEY REVIEW

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A review game to prepare for the #Money Management unit test for #8th grade

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Questions 17

Answers

1
a percentage of money paid you for the use of money
interest
principal
debt
income
2
What part of the check must be filled out to be valid
signature
amount
date
memo
3
When you make a withdrawal from your account you should
add that amount to your balance
make sure your balance is "0"
subtract that amount from your balance
do nothing to your balance
4
Interest can make an item cost more
true
false
5
The specific amount you borrow for a loan
principal
debt
cash advance
interest
6
what is NOT true about money?
If you run out of money, just borrow more from the bank
money is a resource and needs to be used wisely
you should have a budget planned for spending your money
Money helps you get what you need and want
7
what happens if you don't pay your bills on time
All of the above
you might get your car repoed
you'll pay a whole lot more for borrowing money
Your credit history will go down the toilet
8
Credit reports are like report cards about your financial life.
false
true
9
Of the following, what account is most liquid?
insurance policy
savings account
CD
checking
10
If money is liquid it means...
it is in check form
your money is tied up in an account
you can get it quickly
you need collateral
11
What is a CREDIT on your statement?
a deposit
a withdrawal
net pay
deduction
12
If the loan is risky then
you'll pay more interest
you aren't sure you'll get your money back
you might lose your money
all of them
13
INTEREST is....
something you pay
both
something paid to you
14
What is FDIC ?
Insures the money that borrowers have in their banks
Insures banks from losses from people losing jobs
keeps banks from loaning money to people without jobs
Helps people pay their bills if they get laid off
15
I had $100. I spent 40 on groceries, deposited $60 and used my atm for $30. What's my balance?
0
$230
$60
$90
16
Expensive Sneakers and Newest cell Phone
wants
flexible expenses
needs
expensive
17
The extra percentage of the principal that you must pay back to the bank for a loan
fixed expense
minimum payment
income
interest rate

MONEY REVIEW Flashcards | StudBud