2.3.2023 ICC Test

The numbers on the bottom of a typical check represent all of the following except

• Social Security number               

•    Routing Number

• Account Number                          

•                     Check Number

Good credit is usually required for which of the following:(Select all that apply.)

• buying a used car       

• purchasing used furniture        

• getting a credit card

           

• making a cash purchase

A payment type that allows your to make purchases using money directly from your checking account. 

• Credit Card

• Debit Card

• Pre-Paid Card

• Gift Card

Tax that pays for people who are currently retired and for the future retired population.

• State Income Tax

• Tax Refund

• Federal Tax

• Social Security Tax

If you were looking for an account to earn interest on your money. Which account should you choose?

• Checking Account

• Credit Card

• Mortgage

• Savings Account

The exchange of money from one account to another through computer-based systems  is called a(n)

      

• banker’s blanket bond.                  

• automated clearinghouse.

       

• electronic funds transfer                     

• financial intermediary.

An independent federal agency established in 1933 that provides  deposit insurance up to $250,000 for depositors in insured banks and thrifts in the case of bank failure.

         

• FDIC

• financial institution

• Service Fees of America

• insurance

On your paystub, what is the length of time over which you worked and is recorded and paid?

• deductions      

• pay date    

• gross federal income   

•   pay period

Dara makes bracelets and sells them in her shop. Which is a fixed expense for Dara’s business?

• the cost of the beads           

• the cost of the string

• the cost of advertising      

• rent for her shop

An item that is bought without previous planning or consideration of long-term effect?

• impulse buy                       

• obsessive compulsive shopping

• sale item                                        

• clearance