Banks

What is the act of putting money aside on your paycheck for future use called?

• Paying someone first

• Paying yourself first

• Paying someone second

• Paying yourself second

What is a savings certificate with a fixed maturity date and specified fixed interest rate?

• Credit

• Savings Tools

• Certificate of Deposit

• Money

What will happen if you withdraw a CD before maturity?

• You pay a penalty

• You get payed dividends

• Your stocks get sold

• You lose your insurance

Which institutions charge the highest interest rates on loans?

• Pawn shops

• Payday lenders

• Schools

• Finance companies

What is a non profit financial cooperative owned by its members that provides credit and other financial services?

• Schools

• Credit Unions

• Banks

• Insurance

What is an advantage of a credit union?

• lower fees

• higher fees

• lower rates

• higher rates

What is the line that credit that banks offer to their customers to cover their overdrafts.

• Underdraft

• Overcharging

• Overdraft

• Well being

Interest earned on interest

• Compact Interest

• Interest

• Banks

• Compound Interest

How money changes over time, money earned today is worth more than money in the future because you can earn interest

• Compounding

• Interest

• Degenerating Money

• Time Value of Money

What are the 2 greater liquidity savings tools?

• Savings Account

• CD

• Checking Account

• Money Market