Personal Finance Vocabulary Question Preview (ID: 16654)
Vocabulary Words Associated With Personal Finance And Banking.
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The amount of money you earn over time, including allowance, paychecks and monetary gifts.
a) Income
b) Budget
c) Transfer
d) Withdrawal
An itemized detailed list of an individual’s or company’s income and expenses expected for some period in the future.
a) Budget
b) Credit Score
c) Income
d) Interest
Also referred to as a Returned Check or Bad Check
a) Bounced Check
b) Transfer
c) Income
d) Budget
A service offered by many banks that lets you do many of your banking functions over the Internet.
a) Online Banking
b) Transfer
c) Income
d) Interest
a secret combination of letters or numbers. This helps ensure you’re the only person with access to your money.
a) PIN
b) Transfer
c) ATM
d) Online Banking
A movement of funds from one account to another.
a) Transfer
b) Online Banking
c) Balance
d) Deposit
The amount of money you have in your account.
a) Balance
b) Minimum payment
c) Student Loan
d) Deposit
A check of your credit history to make sure you pay your bills on time.
a) Credit Check
b) Minimum payment
c) Balance
d) Student Loan
A charge added to a loan when a monthly payment isn’t made on time.
a) Late Fee
b) Minimum payment
c) Budget
d) Balance
The least amount of money you can pay on a loan to keep your account in good standing.
a) Minimum payment
b) Student Loan
c) Late Fee
d) Balance
A loan that helps students pay their school expenses
a) Student Loan
b) Mortgage
c) Late Fee
d) Interest
Money, goods or services that you owe to others
a) debt
b) Overdraft
c) Withdrawal
d) Late Fee
Acronym for automatic teller machine, a machine at a bank branch or other location which allows a customer to perform basic banking activities even when the bank is closed.
a) ATM
b) ELMO
c) Late Fee
d) PIN
Money put into your account. Also referred to as a credit
a) Deposit
b) Withdrawal
c) Interest
d) Budget
When you don’t have enough money in your account to cover a check or withdrawal, which usually results in a penalty charged by the bank.
a) Overdraft
b) Loan
c) Deposit
d) Withdrawal
In banking, activity on your bank account such as deposit, withdraw or transfer
a) transaction
b) Withdrawal
c) Credit Score
d) Deposit
Money taken out of your account. Also referred to as a debit, or payment.
a) Withdrawal
b) Deposit
c) Loan
d) Interest
Money the bank pays you to keep your funds in a savings account
a) Interest
b) Withdrawal
c) Loan
d) Transaction
Your financial reputation.
a) Credit Score
b) Loan
c) Interest
d) Withdrawal
An amount of money you borrow from a bank or other financial institution on the condition that you pay it back, often with interest.
a) Loan
b) Interest
c) Transfer
d) Withdrawal
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