WISE Financial Literacy Quiz (Money and Banks)

Portion of a person's income available for saving, or spending on non-essentials

Which of the following is NOT a role of the U.S Treasury Department.

Which investment type is the most liquid?

This reduces your taxable income.

Formula that tells how long it will take to double an investment using compound interest.

Idea that money available at the present time is worth more than the same amount in the future.

A nonprofit cooperative whose members can borrow from pooled deposits at low interest rates.

The U.S. currency is not backed gold or other precious metals, this is called:

This monetary equivalent used by retailers MAY have an inactivity fee apply after 12 months.

Which of the following institutions would have the highest interest rates on loans?

A payment order issued by Post Office; however they can have a high rate of counterfeits.

A type of interest that earns interest on interest.

What is the most common type of endorsing a personal check?

Which of the following is NOT a reason to reconcile your bank statement.

Which statement is true about student loans.

A benefit, profit, or value of something that must be given up to acquire something else.

Which group of people are hurt worst with inflation?

This refers to the ease of turning an asset into cash without affecting the assets value.

Opt-in checking feature to protect against writing checks for more than what is in the account.

What happens when you cash in a CD before it matures?