Financial Literacy Unit Test Study Guide

Which option lists financial institutions?

• banks and credit unions
• libraries and schools
• clothing and food shops
• credits and debits

Which services is a bank likely to offer?

• balance and net deposit
• savings and checking accounts
• advertising and Web searches
• time management

What is private property?

• property that the government owns
• property that is free
• property that no one can see
• property that you own

What is required on a bank application?

• transaction list
• full name
• checkbook number
• health ID number

Which bank service do you need for money to start a new store?

• business loan
• savings account
• safe deposit box
• electronic payment

Which type of institution is at the center of JA BizTown's economy?

• educational
• entrepreneurial
• financial
• social

Which action is required when depositing money into an account?

• include your account number
• list your income
• swipe your credit card
• sign your deposit ticket

What is the purpose of a paycheck?

• to show proof of income
• to be sure you have money
• to keep track of your withdrawals
• to give you money in exchange for work

Where do you endorse a paycheck?

• on the back
• in the memo section
• in the money tracker
• after "Pay to the Order of"

What happens when you have insufficient funds in your bank account?

• required withdrawal
• record transaction
• high fee
• electronic payment