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Financial Literacy Basics Flashcards | StudBud

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Financial Literacy Basics

8 terms·StudBud Administration

Test your knowledge on fundamental financial terms and concepts with this quiz covering fixed payments, variable payments, debits, pre-authorized payments, deposits, withdrawals, interest, and account fees.

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Questions 8

Answers

1
What is a withdrawal?
Interest earned on savings
A fee charged by the bank
Money added to your bank account
Money taken out of your bank account
2
What is a debit?
A type of loan
A type of investment
Money taken out of your bank account
Money added to your bank account
3
What are account fees?
Charges that banks apply for various services
Charges for using a credit card
Money added to your bank account
Interest earned on savings
4
What is interest?
The extra money you earn on your savings or pay on a loan
The fee charged for using a debit card
The amount of money you withdraw from your account
The amount of money you deposit into your account
5
What is a fixed payment?
An amount of money that changes over time
An amount of money that is paid annually
An amount of money that is paid weekly
An amount of money that remains the same over time
6
What is a pre-authorized payment?
A payment made in person at the bank
A recurring payment automatically deducted from your account
A one-time payment made with a debit card
A payment made with a credit card
7
What is a deposit?
Interest earned on savings
Money taken out of your bank account
A fee charged by the bank
Money added to your bank account
8
What is a variable payment?
An amount of money that changes over time
An amount of money that is paid monthly
An amount of money that is paid annually
An amount of money that remains the same over time