Unit 2 Vocab Test

A popular savings rule of thumb in which 50% of your income goes

towards necessities, 20% goes towards saving and debt repayment, and

30% goes towards flexible spending

• none of thee above

• 25-25-25

• 50-20-30

• 30-20-50

Automatic Teller Machine. Allows a person to manage a bank account

holder's funds through actions such as withdrawing or depositing

money, viewing account balances, etc.

• TRANSFER

• ATM

• CASH REGISTER

• DEPOSITE SLIP

Balance is

A monthly document prepared by your financial institution which

shows all of the transactions related to your account is a Bank Statement

• True

• False

What does CD stand for?

A check is a written, dated, and signed order to the bank that tells it to pay a

definite sum of money to a payee

• false

• true

Check Register is A record that allows you to keep track of checks you have written,

ATM/debit card transactions, as well as deposits and withdrawals

• false

• true

Reinvesting earned interest back into the principal to allow money to

grow exponentially over time

• Balances

• Stock Market

• Compound Interest

• Equity

Credit is

• None of thee above

• A sum of money deposited INTO an account

• some thing that you have to pay back

• being recognin zed for doing something good.

A card that allows the holder to make purchases without cash by

borrowing money

• Prepaid card

• Debit card

• cash app card

• Credit card