Why do you want to use your own bank's ATM machine to take out money with your debit card?

You will save money by not paying fees.

What are three ways to use online banking?

Money in account -> Transfer money to others > Receive money from others

What three things will you need to open a bank account?

Birth certificate -> Photo ID -> Social insurance number

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Financial literacy part 2

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Questions 11

Answers

1
Gift money, money from allowance and money from winning the lottery are three commons ways teenagers can earn income.
False
True
2
If you bought a used phone for $10 and sold it for $50 you would make $40. What is that $40 you made called?
Product placement
Profit
ATM
Liability
3
Banks are not for profit where as credit unions are for profit.
False
True
4
Budgeting is your money defence because it helps you save money.
False
True
5
The top two first jobs for teenagers are:
Newspaper delivery, barista
Babysitter, barista
Camp counselor, retail store clerk
Babysitter, cashier
6
Why do you want to use your own bank's ATM machine to take out money with your debit card?
You will save money by not paying fees.
Your debit card won't work on other bank machines.
Good to support your bank.
It is more fun to use your bank's machine.
7
What is a disadvantage of using a cheque?
Easy to carry and use
Needed too often
Slow to process
Hard to get access to
8
Banks and credit unions are places to securely keep your money.
True
False
9
What are three ways to use online banking?
Take cash out of your computer->Transfer money -> Receive money from others
Money in account -> Transfer money to others > Receive money from others
Money in account -> See how much money others have->Transfer money
Money in account -> See how much money others have -> Receive money
10
What three things will you need to open a bank account?
Birth certificate -> Photo ID -> Social media account
Letter of recommendation from a teacher-> Photo ID->Social insurance number
Birth certificate -> Photo ID -> Social insurance number
Social media account -> Photo ID -> Letter of recommendation from a doctor
11
What are some reasons to start working young?
Learn important skills for life.
All of the above
So you can invest more at a younger age.
Get better jobs faster.

Financial literacy part 2 Flashcards | StudBud