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Money Management Flashcards | StudBud
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Money Management
Money Management
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Questions
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1
You need $105 in cash. If you take money out of the ATM, how much will you need to withdraw?
115
110
120
105
2
What are expenses that are not "must haves" and are not necessary for survival?
None of the above.
Variable Expenses
Fixed Expenses
Flexible Expenses
3
If you make a small mistake on a check, what do you do?
Initial it
None of the above
VOID
Cross it out
4
What is an open endorsement?
Safety feature.
An open account with another member.
Consists of the holders signature.
A restriction.
5
What happens when money is withdrawn from a bank account and the balance goes below zero?
You overdraft and get a fee from the bank.
Your transaction does not go through.
You overdraft
You get hit with a fee from the bank.
6
What are expenses that you need to stay alive that do not change month to month?
Variable Expense
Important Expenses
Fixed Expense
Flexible Expense
7
A game console costs $199. You have $50 in your account. How much more money do you need?
150
149
25
100
8
In Europe what type of money do they use?
Real
Yen
Pound
Euro
9
When you make a large mistake on a check what should you do?
Write void
Just right a new check.
Correct it.
initial it and continue
10
What are your total earnings or profits?
Fixed Expense
Gross Income
Flexible Expenses
Net Income
11
What form do you use when putting money into your bank account
Debit slip
Payment slip
Deposit slip
Withdrawal Slip
12
When you write out a check you should always use what type of writing utensil?
It doesn't matter
Pencil
Blue or Black Pen
Any color pen
13
What is an individual’s total personal income before taking taxes or deductions into account?
Flexible Expense
Net Income
Fixed Expense
Gross Income
14
Joey saves $15 every 4 weeks for his college fund. How much does Joey save in 1 year?
$185
$180
$190
$195
15
What is a spending plan that you decide upon?
Money management
Fixed Expense
Budget
Personal Savings
16
What is a bank account shared by two or more individuals?
Family Bank Account
Joint Bank Account
Co Signed Account
Co-Bank Account
