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4.10E Personal Finance Vocabulary Flashcards | StudBud
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4.10E Personal Finance Vocabulary
4.10E Personal Finance Vocabulary
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4.10e Financial Literacy
Flashcards
10 cards
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Practice quiz
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Host live
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Questions
10
Answers
1
Income is money earned or received.
True
False
2
What is one disadvantage of regular savings account?
The money can be easily stolen
It may pay a very small amount of interest compared to other saving options
It requires a very high minimum beginning deposit
It is difficult to deposit and withdraw monet
3
If I need to borrow money, where can I go?
Both Bank and Credit Union
Drive Thru
Credit Union
Bank
4
What is a bank used for?
To give people jobs
provide a safe place for money to rest
offer checking and savings accounts, loans and lending; for profit
steal money
5
What is an expense?
Something you get money for.
Something you have to pay for
6
What are the types of financial institutions?
Brokerage Firms
Banks
Credit Unions
All of the above
7
What is an advantage of saving money in a piggy bank?
The money earns interest
The money is easy to acess
The money cannot be stolen
They cannot spend it for 12 months
8
What kind of account would you use to connect to a debit card for regular purchases like gas, groceries, clothing, etc?
Retirement
Investment
Savings
Checking
9
Which of the following best describes one purpose of a financial institution such as banks and credit unions?
None of the above
Both a and b
Lending people money
Keeping money safe
10
Fixed expenses stay the same.
False
True
