Money Management Question Preview (ID: 41005)
Budget And Banking.
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Despite Ms. Grey's mother thinking she spends too much money on clothes and everything else, she's learned to budget her money to avoid what? (P.S. Write the answer in your agenda because it's the 2 pt bonus question for playing the game!!!)
a) teaching Math, Science or Language Arts to Middle School students
b) credit card debt
c) being a Cleveland Browns fan
d) having to get rid of her purple clothes
A bank will loan money for business loans and personal loans. What are some ways the bank will obtain money to loan out?
a) ATM fees or fees processed during overdrafts and checks that are bounced
b) The Federal Reserve gives them 250,000 to loan to each person
c) the money that grows on trees
d) when the bank teller works for free
Loans are a type of service offered at the bank. What are the two types and examples?
a) Personal Loan to buy Ms. Grey new clothes and a School Loan to start a Lemonade Stand
b) Business Loan to start a business or an expense; Personal Loan like to buy a car, school loan or house.
c) loans are only available from your parents.
d)
If Joe Flabeets takes out a loan for 24,000 to buy a new car. When will the loan be paid off?
a) when he goes into debt by taking another loan out
b) when he wins the lottery and pays the 24,000 back
c) When he pays 24,000 back to the bank plus interest
d) when he becomes a bank teller, the loan is forgiven
A bank will loan money for business loans and personal loans. What are some ways the bank will obtain money to loan out?
a) the money that grows on trees
b) money that people have in savings accounts and interest rates charged from loans
c) The Federal Reserve gives them 250,000 to loan to each person that asks
d) when the bank teller works for free
One service at the bank is savings account. Which of the following describes that?
a) used for your everyday expenses and your short-term economic decisions
b) used for long-term economic decisions such as a car, college, weddings and earns interest.
c) given to buy something for a business or personal usage
d)
A checking account has three options of payment, they are:
a) Loans, checks and savings account
b) ATM, Visa and Mastercard
c) debit card, credit card and checks
d)
A debit card is a form of payment out of your checking account. Which describes that?
a) The money is processed immediately, uses a pin number and can obtain cash back
b) the money comes out in a few days, your signature is needed and you can obtain cash back
c) use checks to pay the amount and can have an overdraft fee if it bounces.
d)
A credit card can be used from your bank account. What describes that?
a) The money is processed immediately, use a pin number and can obtain cash back
b) the money comes out in a few days, your signature is needed and fees happen if you don't have enough money
c) use checks to pay the amount and can have an overdraft fee if it bounces.
d)
A checking account has an option of payment by check. What below describes this?
a) The money is processed immediately, use a pin number and can obtain cash back
b) the money comes out in a few days, your signature is needed and fees happen if you don't have enough money
c) use checks to pay the amount and can have an overdraft fee if the check bounces.
d)
What is the financial institution that provides money opportunities in our community?
a) church
b) post-office
c) school
d) bank
One service at the bank is a checking account. Which of the following describes that?
a) used for your everyday expenses and your short-term economic decisions
b) used for long-term economic decisions such as a car, college, weddings and earns interest.
c) given to buy something for a business or personal usage
d)
You manage your money because it impacts what?
a) impacts short and long term economic decisions
b) to not live in your parents basement at 30
c) the opportunty to actually obtain a job
d)
Why is it necessary to have a budget?
a) to prepare for competition in a business
b) to provide free money for the bank to give out as a loan
c) to keep your finances organized, to control your spending and saving
d) to show you love money
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