IRL MEGA QUIZ

Everyone can receive an EBT card if they apply for it

A fee, paid OR received, for the use of money is called what?

This tool is used for recording money being put into and taken out of a bank account

The idea that our elected government officials' make clear laws that apply to everyone equally is called what?

The study of governments, public processes, and the rights and duties of citizenship is called what?

Your CHECKING account's main purpose is to save money and only take money from it for bigger purchases

When you make an electronic payment, the money does NOT move from the bank/credit union to the business

This card is used to buy food for people eligible for government benefits

A credit union and a bank are exactly the same

A payment made online or using an app on your phone that withdraws from your credit or debit card is called what?

Which of these examples would be the BEST time to withdraw money from your savings account?

An electronic transfer of money from one account to the next is called what?

The number required when a person used a debit card to ensure that others can't access the bank account is called what?

You can use a phone or computer to make a payment on a DEBIT card

Savings accounts should hold a set amount of money aside that you should not withdraw for regular spending needs

What is a financial institution?

A card that allows you to spend only the amount you have PRE-deposited into an account is what?

Money borrowed that must be repaid, usually with interest is called what?

Before you can make a payment, you need to have money in your bank account

A written record of money put into your bank account is called what?

A card that is purchased for a certain amount for a specific business and then used like cash is what type of card?

Every working adult makes the same income

Before cashing in a paycheck, you must _______ it by writing your signature on the back

Abilities a person has developed and does well is considered to be what?

Your duty to behave a certain way is called your _________

Credit cards take out a loan from the bank every time they are used for a purchase

How a country makes and manages goods, services, and money is called what?

You will receive this after completing an amount of work

Who protects the money in our bank accounts?

The amount that we currently have in our bank account is called our what?

This card allows customers to electronically and immediately withdraw funds from their accounts

Withdrawing money from an ATM is a legal way to withdraw money from your bank account

Credit AND debit cards have the user's name on the front

What is a bank?

Your SAVINGS account should NOT be used for regular daily spending

Things that a person likes to do are called what?

A condition which people cannot have everything they want/need because of limited resources is called what?

Gift cards have the user's name on the front

Which of these is an example of how we can transfer OR take money out from the bank?

This is the money that people earn as a whole and depends on the value they bring to a business

The freedom to act in a certain way is your _______

An additional fee added on top of your already paid interest is called what?

This card allows the holder (person) to buy goods and services by taking out a bank loan with each purchase

A person who requests or seeks something, such as a job, is called what?

When you save a specific amount of money from each paycheck and set it aside into your savings, this is called what?