2.01 Money - Guided Notes

The _______________ Department is responsible for overseeing the printing of bills and minting of coin.

• Federal Reserve

• Treasury

• Fort Knox

• Business

A Debit Card looks like a Credit Card but works like a _________________.

• Check

• ATM

• Savings Account

• Bank Card

A Credit Card allows you to pay later for items your bought. This is called __________________.

• Financing

• Borrowing

• Investing

• Charging

Each Credit Card has a maximum amount you are allowed to charge. The maximum amount is called the credit __________________.

• Limit

• Cap

• Ceiling

• Maximum

An ATM machine can only give you money back in $________ increments.

• 5

• 10

• 20

• 50

It is illegal for merchants not to accept cash because of the phrase printed on the money that states, "This note is ___________________________ for all debts public and private.

• Counterfeit

• Electrum

• Legal Tender

• Acceptable

You will have a PIN that you must remember in order to use a debit card or ATM card. What does PIN stand for:

• Personal Identification Number

• Public Identification Number

• Personal Information Number

• Public Identification Name

If you use a another bank's ATM you will be charged a _________________ fee.

• Claim

• User

• Customer

• Service

When using a Credit Card money does not come out of your personal banking account directly, instead you will receive a bill ___________________ for the items you have charged

• Daily

• Weekly

• Monthly

• Yearly

If you do not pay your credit card on time you will be charged ______________________________.

• Interest and Late Fees

• Service Charges

• Annual Fees

• Price Adjustments