Personal Finance Unit 2 Review

Commercial banks are insured by:

Overdraft fees occur when you withdraw more ...?

Which financial institution generally pays higher interest rates?

The background of color of bills is?

WISE Trivia - Greenbacks and bucks are nicknames for?

If you write "For Deposit Only" on the back of a check what type of endorsement is that?

Both the FDIC and NCUA will insure up to what per depositer for each account they own.

Recession happens when the supply of money does what?

Liquidity is?

Simple interest is when you earn interest on interest.

When you sign the back of a check you are:

When money increases too fast that can cause what?

You write a check to Giant for $25.00 on 10/31/20 for food. What do you write in the payee line?

Monetary policy's primary focus is on maintaining what?

A person can both pay and earn interest.

A checking account provides ____access to a person's funds

The FED's primary focus is on?

A cashier's check is when the ______ makes a promise to pay at your request.

When would you use a Traveler's Check?

Which is the most liquid account?

The Federal Reserve Bank is responsible for implementing?

Electronic funds transfer is what type of transaction?

Why should you save money?

Interest can be both compound or simple:

Which is NOT considered a savings vehicle?

FED stands for

Which of the following can you NOT complete at the ATM?

Inflation is a ___ in the general level of ___ of goods and services.

What type of check do I write at the grocery store?

Your emergency savings fund should cover how many months worth of expenses?

The FED is considered the what bank of the US?

Which of these services are offered at depository institutions?

What will help you calculate how long it will take your investment to double?

Which account earns higher interest rates but does not LOCK in your money?

When your money is locked in for a specific period of time at a specific interest rate