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Banzai Financial Literacy Test Review Flashcards | StudBud
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Banzai Financial Literacy Test Review
Banzai Financial Literacy Test Review
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Banzai Financial Literacy Test Review
Flashcards
15 cards
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Questions
15
Answers
1
What is a savings account?
An account where money is stored.
An account that lets you borrow money.
The same thing as a checking account.
2
A _________ is an amount of money placed into a savings or checking account.
deposit
overdraft
Statement
withdrawal
3
What is a cleared check?
A check used to pay rent.
A check that has been honored and processed.
A check that does not go though with your bank.
4
Which of the following are necessary costs of car ownership?
Gas
Insurance and registration
All of the above
Maintenance
5
A _________ is an amount removed from a savings or checking account.
withdrawal
deposit
statement
6
Why does your employer withhold money from you on each paycheck?
To make up work hours you missed.
Because you were overpaid last month.
To pay federal and state taxes.
7
A ______ is a document published by your bank that details all transactions for the month.
statement
cleared check
deposit
withdrawal
8
The amount available or the amount owed on an account is the-
budget
balance
credit
copay
9
What's an example of a utility cost?
College savings
Cell phone
Grocery money
Electric bill
10
What is a debit card?
A card you use and pay back later.
A card that takes money directly out of the checking account
A savings account.
11
A credit card charges monthly interest if the balance is not paid in full each month.
False
True
12
A percentage charged when you borrow money is called-
a copay.
credit.
interest.
debit.
13
An ________ occurs when withdrawals have gone over the available amount.
Withdrawal
Overdraft
Cleared check
Deposit
14
What is an overdraft fee?
A fee for overspending.
A state tax.
A fee for maintaining your account.
15
What's it called when you spend more than you have?
Withdrawal
Debt
Deposit
Transfer
