WISE Financial Literacy Quiz (Money and Banks)

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

Which investment type is the most liquid?

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

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

Which group of people are hurt worst with inflation?

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

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

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

Which statement is true about student loans.

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

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

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

This reduces your taxable income.

A type of interest that earns interest on interest.

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

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

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

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

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

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