New coins and currency make their way into the general economy, consumers & businesses, through

the distribution system of the Federal Reserve System

A cash card generally

is purchased with a specific amount of money loaded on it

Which of the following provides an increase in assets or wealth?

Having capital gains on investments

Money supply in the United States includes coins, currency, savings deposits, time deposits &

Checking account balances on which checks can be drawn

Scott just got an ATM card and must choose a PIN. How should he choose a safe PIN?

Use a random selection of letters and numbers

Which of the statements is usually true about individuals who are financially literate

They understand the basics of personal finance & money mgmt

Ann gave Ben her BB&T debit card & PIN so he could get $25 from her account. He got $100!

No bank or govt agency is obligated to reimburse Ann.

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W!se Financial Literacy Review "Money, Intro Finance"

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W!se Financial Literacy certification review question from moneypower.org related to the Money, Intro to Finance category

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Questions 10

Answers

1
New coins and currency make their way into the general economy, consumers & businesses, through
the distribution system of the Federal Reserve System
the distribution system of the Treasurer of the US
the distribution system of the US Federal Mint
the distribution of the Secretary of the Dept of Treasury
2
A cash card generally
Is the same as a debit card & is always linked to an account
Can be used in the same way that a check is to pay bills
Is the same as a credit card which means you can pay bills
is purchased with a specific amount of money loaded on it
3
Which of the following provides an increase in assets or wealth?
Having capital gains on investments
Volunteering at a homeless shelter
Taking out a mortgage
Running in a marathon
4
Money supply in the United States includes coins, currency, savings deposits, time deposits &
Barter
Checking account balances on which checks can be drawn
Diamonds
Gold
5
Scott just got an ATM card and must choose a PIN. How should he choose a safe PIN?
Use the name of a friend, family member or pet
Use his first initial and last name as his PIN
Use a random selection of letters and numbers
Use his birthdate as his PIN
6
Nora needs to call long-distance from a pay phone & has no cash.She can use her ____ instead
identification card
credit card
cash card
traveler's check
7
When a person brings an item to a pawnshop to obtain cash, the transaction may be considered
a custodial payment
a collateralized loan
a sales agreement
an unsecured loan
8
To make sure you always remember your ATM card PIN, you should write the PIN and keep it
in your checkbook
in your wallet
on your ATM card
in a secure place at home
9
Which of the statements is usually true about individuals who are financially literate
They always choose stocks and bonds that increase in value
They achieve all of their financial goals
They understand the basics of personal finance & money mgmt
They have high debt and low savings
10
Ann gave Ben her BB&T debit card & PIN so he could get $25 from her account. He got $100!
She can file a complaint with the Federal Reserve Board
Ann can demand BB&T reimburse her for the unauthorized act
No bank or govt agency is obligated to reimburse Ann.
She can demand Ben's bank reimburse her for the $

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