Principles Final review

What should you do before you withdraw money from the ATM?

• Ask someone nearby for help using the ATM

• Inspect the ATM to make sure it wasn't tampered with

• Share your pin number with trusted friends so you don't forget it

Investing is best for ________.

• short-term financial goals, like building an emergency fund

• earning a little interest while keeping your money safe

• long-term financial goals, like paying for retirement

Which type of bank account is best for everyday transactions?

• Checking Account

• Savings Account

• Certificate of Deposit

Which of the following is NOT a common feature of a financial institution?

• Access to investment products

• Access to ATMS

• Direct deposit

A _______ is a share of ownership in a company.

• bond

• stock

• bank

What is net pay?

• The amount of pay earned for the total number of hours worked

• The amount of money you're paid after all taxes and deductions are taken out of your paycheck

• The amount of money you're paid before all taxes and deductions are taken out of your paycheck
  

The W-4 tax form is used to ___________.

• tell your employer how much federal income tax to withhold from your paychecks to send to the IRS

• file your tax return

• avoid paying income taxes on your paychecks

Which of the following statements is true about taxes?

• Taxes pay for schools and government departments

• Taxes pay for roads and emergency services

• All of the above

  How can you avoid spending more than what is in your bank account?

• Check your bank statement once a month

• Ask your financial institution to notify you when you are close to $0 in your account

• None of the above

Which of the following statements is TRUE?

• If there is a mistake on one of your bank accounts, there is nothing you can do about it

• If there is a mistake on your bank account, you should contact your financial institution immediately

• None of the above