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DR #3 Budgeting & Banking Flashcards | StudBud
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DR #3 Budgeting & Banking
DR #3 Budgeting & Banking
49 terms
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StudBud Administration
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396 plays
Budgeting & Depository Institutions
Flashcards
49 cards
F
Practice quiz
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Host live
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Questions
49
Answers
1
Banks now have a sign when you walk in to tell you to remove what two items?
sunglasses & hoodies
hats & coats
hats & sunglasses
coats & wallet
2
Rent is a
fixed expense
cost expense
variable expense
loan expense
3
When one writes a check, the numerical amount should always match the
signature
dollar amount
memo
date
4
FDIC insures each depositor up to
$250,000
$100,000
$200,000
$150,000
5
PIN stands for
Personal Identification Number
Person of Interest Number
Person of Identity Number
Personal Identity Number
6
When two people are on the same checking account, this is called a
single account
family account
joint account
standard account
7
Betting that a deposit will clear the bank before a check is presented for payment
Playing the check
Playing the float
Playing the draft
Playing the bank
8
There are how many Federal Reserve Banks
12
14
10
8
9
When writing a check out to cash, this is needed on the back of the check
your checking account number
your street address and zip code
your signature
your cell/telephone number
10
Alaska & Hawaii report to what federal reserve bank
dallas
san francisco
minneapolis
new york
11
% of Americans living paycheck to paycheck
40%
70%
30%
60%
12
This is where you write down your check transactions & keep a balance of how much $ you have
check account
check roster
check register
checkbook
13
This is the most popular type of depository institution
federal reserve
commercial banks
savings & loan banks
credit union
14
One does not need to record any bank fees, since they are always free
false
true
15
This takes the $ out of your account immediately
check
credit card
debit card
register
16
Mrs. Mowls belongs to this credit union
Goodyear
Seiberling
Firestone
Goodrich
17
This acts as the "Lender of Last Resort" to financial institutions in crisis
Credit Union
Federal Reserve
Commercial Banks
Savings & Loan Banks
18
According to Dave every dollar has a
place
answer
percentage
name
19
This is the central bank of the United States
Credit Union
Commercial Bank
Savings & Loan Bank
Federal Reserve System
20
Banks make money by giving out loans
true
false
21
Every month one should have a _______ based budget
empty
solid
full
zero
22
This regulates the economy by setting interest rates & controlling the $ supply
Credit Unions
Commercial Banks
Federal Reserve
Savings & Loans Banks
23
When you open a checking account, you will have to fill out a
check card
security code
brief survey
signature card
24
The trailing edge of the check is where
you add up your coins for deposit
you put your fingerprint on
the bank copies your check
you sign the back of the check
25
Percentage of people who live paycheck to paycheck
70
60
50
80
26
During the depression-this happened and also in the movie "A Wonderful LIfe"
bank spring
bank fast
bank jump
bank run
27
A demand account means
one can withdraw $ anytime you want
one has access to 24 hour banking service
one holds a minimum balance in their account
one has to wait 24 hours to cash a check
28
Overdrawn means
Have a lot of $ in checking account to cover your check
You made a huge withdrawal from your checking account
Not enough money in checking account to cover your check
You made a huge deposit to your checking account
29
The head of the federal reserve board is
Jerome Popper
Jackson Powell
Jerome Powell
Jackson Polar
30
NSF stands for
non-sufficient funds fee
non sufficient favorable system
No such funding
non sufficient facility
31
Divided into categories & used to store cash for planned monthly expenses
The notebook system
the envelope system
the pocket system
the wallet system
32
These are checks that have been written but have not been cashed
outstanding
cancelled
waiting
overdrawn
33
How many nickles in a $2 roll?
40
25
20
35
34
ATM stands for
Automatic Teller Machine
Automatic Tax Machine
Allotted Teller Modem
Automatic Teller Modem
35
Car repairs are a
variable expense
cost expenses
luxury expense
fixed expense
36
When writing checks, one should always use a
#1 pencil
blue or black pen
mechanical pencil
gel pen
37
At credit unions regular savings accounts are called "___________accounts"
credit accounts
shared accounts
member accounts
savings accounts
38
According to DR-if you have an irregular income you should always do a
monthly budget
cost analysis
check review
bank balance
39
Endorsing a check means
one cashed the check at the bank
one signed the back of the check
one deposited a huge amount of $
the check has been voided
40
This class is the best ever
personal finance
business foundations
entrepreneurship
marketing
41
Valuables that one does not need to gain access to quickly can be stored in a
safe deposit box
locker
locked desk
safe house
42
Puerto Rico is part of what Federal Reserve Bank
Richmond
Washington DC
New York
Boston
43
A line of credit for overdrawn checks
money order
certified check
direct deposit
overdraft protection
44
The number of federal reserve banks is
8
14
12
10
45
How many pennies in a roll?
50
125
75
100
46
These are checks that have already been cashed
bounced
limiting
outstanding
cancelled
47
This is a legal document that functions as cash
credit card
check
deposit slip
withdrawal slip
48
This is non-profit corporate institution that often charges lower fees & loan rates
credit union
savings & loan banks
federal reserve
commercial bank
49
How much is 40 quarters in a roll?
12 dollars
10 dollars
8 dollars
5 dollars
