Financial Literacy Flashcards

A bank is:

• a financial institution that accepts deposits and grants loans

• the side of a river

• a type of building

• an investment firm

A budget is:

• A financial plan for managing income and expenses

• A type of bank account

• A detailed grocery list

• A recipe for cooking

A check is a written order to a bank to pay a specified sum from the drawer's account.

• A check is a written order to a bank to pay a specified sum from the drawer's account

• A check is a type of bank account

• A check is a coin

• A check is a form of currency

Fill in the blank: A little book full of blank checks is called a ________.

• Check Book

• Passbook

• Savings Book

• Cash Book

Fill in the blank: A special bank account that lets you use checks to pay for things is called a ________.

• Checking Account

• Savings Account

• Credit Account

• Money Market Account

Fill in the blank: A paper where you write down all the checks you use, when you used them, and who you gave them to is called a ________.

• Check Register

• Checkbook Ledger

• Cash Register

• Payment Voucher

Fill in the blank: A card that takes money right out of your bank account when you buy something is called a ________.

• Debit Card

• Credit Card

• ATM Card

• Prepaid Card

Deposit is a sum of money placed in a bank account.

• A sum of money placed in a bank account.

• A withdrawal of funds from a bank account.

• A bank fee charged by banks.

• A money laundering technique.

A Deposit Slip is

• A printed form used by a bank customer to deposit funds.

• A form used for withdrawing money.

• A check provided by the bank.

• A statement for credit card transactions.

Endorse a check means to sign the back of the check to authorize its processing.

• To sign the back of the check to authorize its processing.

• To verify the funds available in the account.

• To mail the check to the issuing bank.

• To record the check in an account ledger.