To open a savings account when under age 18, one must bring

a parent/guardian, 2 picture ID's

What banks don't do...

offer free cash to every 100th customer

In banking, credit is about

borrowing money to buy something now

the amount of money a person is able to make from working

In banking, the word "deposit" can be defined as

money that is added to a bank account

In order for their customers to save money, banks offer all of these but one:

investment of dollars accounts or IOD's

an expense that never changes each month

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Banking and Budgeting Bonanza

30 termsStudBud Administration4,304 plays

This is intended to review lessons learned from the "Hands on Banking" site for middle schoolers.

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Questions 30

Answers

1
Money begins at the
copy machine
treasury
supermarket
bank
2
To open a savings account when under age 18, one must bring
a neighbor to verify identity
a relative and a school ID
a parent/guardian, 2 picture ID's
proof of birth (e.g., baby clothes, etc.)
3
The money that is not found in North America is the
peso
Canadian dollar
Guatemalan quetzal
American dollar
4
What banks don't do...
provide you with checks to pay for things
allow you to store money in savings accounts
offer free cash to every 100th customer
keep your money safe
5
Checks can be used to pay for all of these, but one:
groceries
phone bill
hopes and dreams
utilities
6
The name of the president featured on the one dollar bill is
Donald Trump
James Madison
George Washington
Barack Obama
7
The letters in the acronym ATM stand for
Authentic Tater Masher
Automatic Twix Maker
Automated Transaction Machine
Automated Teller Machine
8
In banking, credit is about
closing bank accounts
borrowing money to buy something now
giving someone recognition
opening bank accounts
9
Each month, the bank sends customers a record of transactions called a
statement
register
monetary notice
grocery list
10
One keeps track of one's funds by maintaining a
recipe
register
notebook
diary
11
People with higher education and more skills have
more migraines
a higher earning power
more colorful tattoos
a likelihood to marry young
12
The term "expense" refers to
the sale price
the cost of an item
the amount necessary to open a bank account
money that is spent
13
Earning power is
the largest amount a ruler can earn
the limit of interest one can make from a bank
the amount of money a person is able to make from working
the income of widely-known powerful people
14
Most experts in finance believe that good credit starts with a
happy thoughts
budget
bank
money
15
A(n) ___________ slip is used when adding money to a bank account.
withdrawal
permission
deposit
attendance
16
The names of the animated characters who narrate the "Hands on Banking" lesson are
Angie and Andrew
Amy and Andy
Alex and Angie
Alice and Andrew
17
Good credit means there is ________ between the bank and the borrower.
trust
money
distance
a desk
18
The goal of this financial literacy unit is to teach students how to manage their money and
all of these reasons
save money to pay for things later
increase their earning power
get what they want faster
19
The term for the money paid by the bank to a customer is
fun mun
fees
funds
interest
20
The total amount of money in an account is called a
remainder
stash
balance
inventory
21
In banking, the word "deposit" can be defined as
a removal of funds from an account
money that is added to a bank account
money that is thrown away
a credit provided to dependable bank customers
22
Which of these is NOT the best way to keep a budget?
watch for sales
splurge once in a while
use coupons
keep a "just in case" fund
23
In order for their customers to save money, banks offer all of these but one:
savings accounts
money market accounts
certificates of deposit accounts or CD's
investment of dollars accounts or IOD's
24
Currency is
cash and coins
current investments
a new vegetable
how we measure value
25
A fixed cost is
money spent on home repair
an expense that never changes each month
the amount charged for correcting a bank statement
the cost for repairing a person's credit
26
ATM's provide money in multiples of
15
5
20
10
27
What words are represented by the letter in the acronym "PIN"?
Painful Identity Number
Personal Identification Number
Personal Inquiry Numeral
Proper Icky Number
28
Banks DO NOT receive money from
people
the Treasury
the undead
businesses
29
Be sure, when depositing money, that you sign the slip
in cursive
using invisible ink
in front of the teller
using blue ink
30
An income means
a new customer of a bank
An alert when bombs are being dropped... incoming!
the opposite of outcome
the money that is earned

Banking and Budgeting Bonanza Flashcards | StudBud