Financial Literacy Sum It Up Questions

Having your paycheck sent directly to your bank account is called what?

Which type of card allows you to purchase something, even if you don't have that much money in your account:

Money from a personal check comes from a savings account.

When you deposit a check, you endorse the front of the check.

All bank transactions should be recorded in your register.

When you use your debit card, the money comes from your checking account.

You will need to enter your PIN when using which type of card:

Which is a financial institition?

An agreement, or exchange

The shorter money is saved, the more money you will have for your needs and wants.

All transactions should be recorded in the transaction record or online through mobile banking.

You must ALWAYS sign a deposit ticket,

If there is not enough money in an account, the bank will cover the check for the check holder.

When depositing money in your account, you should include your account number.

The amount left over from your paycheck after taxes and deductions are withheld is called....

Less cash received, is another word for what?

Direct deposit allows you to deposit money into your account without having to go to the bank.

A paycheck and a personal check are the same thing.

You should write a check for more than the balance of your account.

When you want cash back, you must sign your deposit ticket.

Banks make loans to people and businesses.

What is NOT a financial institution?

Which type of card allows you to loan money onto the card for use at many locations and stores?

Credit cards and debit cards are the same.

Which is a service a bank is likely to offer?

You can write a check to withdraw money from your checking account.

Which is NOT a benefit or advantage of using direct deposit.

The lower the interest rate, the more money you will earn.