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BV Financial Literacy Unit Flashcards | StudBud
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BV Financial Literacy Unit
BV Financial Literacy Unit
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Questions
20
Answers
1
True or False: An hourly employee is paid a specific amount for the year.
False
True
2
Customers receive a debit card when opening a savings account.
True
False
3
The purpose of a budget is to ______________ spending.
Plan & Improve
Track
Organize
All of the above
4
What is an overdraft?
When you misplace your debit card.
When you over pay your bills
When your account balance falls below $0
When the bank charges an account fee.
5
True or False: Another term for available credit is balance.
False
True
6
PIN Number stands for
Personal Identification Number
Personal Institution Number
Personal International Number
Personal Interest Number
7
An overdraft is a type of loan.
False
True
8
Part Time Employees work over 40 hours a week.
True
False
9
Which of the following is NOT an example of a commercial bank?
TD Ameritrade
Bank of America
Wells Fargo
US Bank
10
When writing a check you should always...
All of the above
Sign your name in cursive
Write Neatly
Use Pen
11
What is a credit line?
The lowest amount a customer can pay on their revolving credit account.
A fee that is charged when using a credit card
The amount of funds that can be charged to the account.
The amount charged when your payment is late
12
Commercial Banks are the most common type of banks.
False
True
13
True or False: Credit Unions are for profit.
False
True
14
True or False: Debit card purchases are loans
True
False
15
True or False: Savings Accounts come with a Debit Card
True
False
16
An emergency fund can be used for....
Grocery Shopping
Pay down debt
Car repairs
Buying a new TV
17
True or False: Gross pay is the same as take home pay.
True
False
18
It's ok to sign your check in manuscript if you do not know cursive.
True
False
19
Commercial Banks offer the following services except...
Save Money
Pay Bills
Apply for a loan
Purchase Stock
20
Credit Unions are owned by their members
False
True
