Finances

__________ is an arrangement with a bank in which the customer puts in and removes money and the bank keeps a record of it.

• loan

• cashier's check

• bank account

• mortgage

An account where you keep an emergency fund or savings for a major financial crisis is called __________ __________.

• savings account

• retirement account

• checking account

• brokerage account

A bank account where you store money to handle everyday financial transactions is called a __________ ___________.

• savings account

• brokerage account

• retirement account

• checking account

What type of information is factored into a person's credit score?

• number of financial accounts

• total debt

• repayment history

• All of the above.

Which term below is defined as a card issued by a financial service company that allows people to borrow funds with which to pay for goods and services with merchants?

• a debit card

• a credit card

• a checking account

• a 401k

Mortgages, auto loans, student loans, and credit cards are all forms of _____ .

• grants

• debt

• scholarships

• bank accounts

__________ is an estimation of revenue and expenses over a specified future period of time.

• a projection

• a loan

• a budget

• a bank statement

[CHOOSE ALL THAT APPLY] Which terms below are examples of income sources?

• credit card payment

• allowance money

• paychecks from part-time jobs

• gift cards

[CHOOSE ALL THAT APPLY] Which of the following terms are examples of expenses?

• rent payment

• paycheck

• cell phone bill

• electric bill

Which of the statements below most accurately describes cryptocurrency?

• a currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and relies on cryptography to prevent counterfeiting

• anything recognized by law as a means to settle a public or private debt or meet a financial obligation, including tax payments, contracts, and legal fines or damages

• a government-issued currency that is not backed by a physical commodity like gold or silver. Instead, its value is based on the public's trust in the government or central bank that issues it.

• a legal tender issued by a country's central bank or monetary authority