Personal Finance Test Prep

If everyone decided today to go grab all their money, I would still have all of my money and assets from that bank

What is a lifeline/2nd chance account

Debit and Credit cards are the same

What is a credit card?

With a savings account, you pay low interest, need a high initial amount deposited and high minimum amount of money

With Online banking...

With good credit I can...

With an high-yield savings account you pay low interest rates, high initial deposit, and low minimum in the account

Most banks are not insured by the FDIC

We use the basic tools of finance everyday

What type of account is used in everyday life and able to be deposited into and withdrew from

Debit cards/credit cards, banking and budgeting, investing are all concepts of financial literacy

what is one of the basic financial tools we use everyday?

What is one of principles/concepts of financial literacy?

What is a checking account?

Financial literacy is the ability to understand and make use of a variety of financial skills and personal management

Which one of these retirement plans are more prominent in today's world

Most credit card issuers, don't require you to pay balance in full every month

Time value of money & managing debt are examples of financial concepts

An emergency fund is money that you have saved up for any unforeseen circumstances