WISE Financial Literacy Quiz (Money and Banks)

A court mandated deduction from your paycheck is called a garnishment

Which of the following is NOT a role of the U.S Treasury Department.

Opt-in checking feature to protect against writing checks for more than what is in the account.

A benefit, profit, or value of something that must be given up to acquire something else.

A nonprofit cooperative whose members can borrow from pooled deposits at low interest rates.

Responsible for printing, minting currency through the Bureau of Engraving and the U.S. Mint

This monetary equivalent used by retailers MAY have an inactivity fee apply after 12 months.

Portion of a person's income available for saving, or spending on non-essentials

What is the most common type of endorsing a personal check?

Offers loans in exchange for personal property as equivalent collateral

Which investment type is the most liquid?

The U.S. currency is not backed gold or other precious metals, this is called:

This refers to the ease of turning an asset into cash without affecting the assets value.

What happens when you cash in a CD before it matures?

This reduces your taxable income.

Which of the following institutions would have the highest interest rates on loans?

A payment order issued by Post Office; however they can have a high rate of counterfeits.

Which is not a mandatory payroll deduction

Which statement is true about student loans.

FDIC provides $250,000 of insurance for each account at:

Which group of people are hurt worst with inflation?

Federal taxes collected by or paid to: