A cleared check is....

Check that has been honored and processed.

Like a credit card but it takes money from your bank account

Facts about investment include

Invest early because time increases the value.

A sum of money to be used for a particular purpose

studbud

Budgeting and Financial Management

22 termsStudBud Administration145 plays

Basic vocabulary for budgeting, savings, checking, investing and general financial management.

Flashcards22 cardsFPractice quizPHost liveL

Questions 22

Answers

1
This is a document published by your bank that details all transactions for the month.
Cleared Check
Checking Account
Statement
Check Register
2
A cleared check is....
A check that clears out your account.
Check that has been honored and processed.
A check from your employer.
A check that has bounced.
3
When do you record a transaction in your check register?
When you use your debit card.
When Automated Teller Machine (ATM) withdrawals are made.
When checks are written.
All of the above.
4
A check from personal checking that is guaranteed by a bank to be good.
Certified check
Traveler's check
Cleared check
Cashiers check
5
You can pay with this form of money based on a promise to pay that creditor back.
Checking Account
ATM
Debit Account
Credit Card
6
___________ is a bank account where money is stored and returns a low interest rate.
ATM
Savings Account
Deposit Account
Checking Account
7
If you make a mistake writing a check, you should...
bounce the check
cancel the check
reconcile the check
void the check
8
A bank account where the depositor can write checks is called a ____________________.
Savings Account
Credit Account
Checking Account
Certificate of deposit
9
A check that hasn't cleared the bank.
Certified check
Cashiers check
Outstanding check
Overdrawn check
10
Which one is NOT a common reason for saving?
Financial Goals
Earning interest quickly
Retirement
Emergencies
11
Rent is an example of...
Variable expense.
Discretionary expense.
Fixed expense.
Net expense.
12
A card used in place of a personal check that uses funds in the checking account.
Gas card
Credit card
Prepaid phone card
Debit card
13
A debit card is...
A card which you may only make online purchases with
Like a credit card but it takes money from your bank account
None of the above
A card that lets you buy goods promising to pay later
14
Facts about investing include ...
Investing is making money while you sleep.
There are many types of investment so research what fits you
The higher the risk the higher the interest rate.
All of the above
15
This is the amount of money you make before deductions.
Gross Pay
Taxes
Net Pay
Earnings
16
An opt-out policy lets customers decline to have personal information shared with others.
True
False
17
A(n) _______occurs when withdrawals have gone over the available amount.
cleared check
overpaid
overdraft
deducted
18
Facts about investment include
Invest early because time increases the value.
Investing is the first step in money management.
Investing is no different than saving.
Stock market carries little risk.
19
A credit card is...
Charges monthly interest if the balance is not paid in full.
Lets you buy goods/services based on a promise to pay later.
Both answers are true.
Both answers are false.
20
The higher the interest rate, the more restrictions the account will have.
True
False
21
Budget item amounts that can be adjusted when needed.
Fixed expenses
Flexible expenses
Utilities
Phone bill
22
What is a budget?
A list of things you want.
Having to write checks to buy things you cannot afford.
A sum of money to be used for a particular purpose
The same thing as a savings account.

Budgeting and Financial Management Flashcards | StudBud