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Banking and Budgeting Flashcards | StudBud
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Banking and Budgeting
Banking and Budgeting
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Personal Financial Literacy Review
Flashcards
28 cards
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Practice quiz
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Questions
28
Answers
1
An individual or company to whom a check is written.
Payee
Currency
Payer
Endorse
2
What is the total deposit on the deposit slip below?
$89.76
$113.76
$155.76
$163.76
3
How much does the FDIC insure individual accounts for?
250,00
50,000
200,00
100,00
4
Reconcile your account register every three months to keep track of your balance.
True
False
5
On the picture below, where do you write the date?
12
2
9
10
6
An amount of money taken out of an checking account
Bounced check
Endorse
Withdrawal
Deposit
7
Putting money in a bank account.
Currency
Balance
Deposit
Withdrawal
8
Writes "pay to the order of ( fills in person's name) 2nd party check.
Restrictive endorsement
Blank endorsement
Special endorsement
9
Flexible expenses stay about the same each month.
False
True
10
A mortgage is considered a fixed expense.
True
False
11
A bank has refused to cash or pay due to lack of funds.
Payee
Balance
Endorse
Bounced check
12
To revise a loan agreement to make terms suitable to the borrows needs.
Balance
Deposit
Refinance
Deposit
13
If debit card is stolen you are responsible for charges.
False
True
14
The amount of money in an account.
Deposit
Payer
Payee
Balance
15
On the check below where do you write who the check will be made out to
10
1
4
12
16
Most short term goals are based on activities over the next two years.
True
False
17
Secure endorsement: "For Deposit only" and the account number above his/her name signature.
Blank endorsement
Special endorsement
Restrictive endorsement
18
A common long term goal may involve saving for college for parents of a new-born child.
True
False
19
A check register keeps track of where your money is spent.
True
False
20
Signature on the back of a check.
Currency
Endorse
Balance
Payee
21
An individual that writes the check.
Balance
Payer
Deposit
Payee
22
On the check where do you write your signature?
12
4
7
8
23
The budget process starts with monitoring current spending.
False
True
24
What is the present balance?
$346.38
$354.12
$344.99
$357.70
25
The best goals to make are
Fixed
Short
vary
Smart
26
Bouncing a check happens when
When people loose a check
Insufficient funds in the account
The check goes form bank to bank
27
An account that accrues interest in exchange for use of the money on deposit.
Withdrawal
Checking Account
Saving Account
Credit Union
28
The final phase of the budgeting process us to:
Compare your budget to what you have actually spent.
Review financial progress
set personal and financial goal
Monitor current spending patterns