Personal Finance 4.02 B Question Preview (ID: 9835)


Personal Finance 4.02 B. TEACHERS: click here for quick copy question ID numbers.

Roberto purchased shares of ownership in a local commercial bank. What type of investment is this?
a) Bond
b) Certificate of Deposit
c) Mutual Fund
d) Stock

Marti opened a savings account at a credit union. What type of account is this?
a) Brokerage
b) Checking
c) Retirement
d) Share

Jerry is concerned about the safety of his money in a local commercial bank. What insurance program protects his money?
a) FDIC
b) NCUA
c) No insurance offered to commercial banks
d) SAIF

What do savings and loans associations and credit unions have in common?
a) Both are insured by SAIF
b) Both are required to pay federal income taxes
c) Both offer checking and savings accounts
d) Both require membership to a specific employer

What do commercial banks and credit unions have in common?
a) Both are available to everyone
b) Both are for profit
c) Both are insured by NCUA
d) Both offer mortages

Warren does not have a personal checking account and does not like to carry cash when he shops. What should he do?
a) Obtain an installment loan
b) Stop at the ATM and get cash
c) Use a credit card when he shops
d) Use a debit card when he shops

Wanda wrote a check with an incorrect amount. What should she do?
a) Cross out the incorrect amount and write the correct amount above it
b) Remember next time to write in pencil so corrections can be made
c) Tear up the check and write "VOID" beside that check number in the register
d) Use white-out to cover the incorrect amount and then write the correct amount

Sherry just received her bank statement in the mail. What should she do?
a) Balance her checkbook
b) Endorse by signing on the back
c) Open a checking account
d) Write a personal check

Jennifer does not have a checking account and needs to send $75 to her sister in another town. What should she do?
a) Give her friend $75 and ask him to mail a personal check to her sister
b) Go to the bank and obtain a certified check
c) Mail the cash in a thick, secure envelope
d) Obtain a money order for $75 and mail to her sister

Greg wants to be sure to protect his PIN number from being stolen. What should he do?
a) Attach his PIN number to his debit card
b) Be observant when using an ATM
c) Note on his debit card where his PIN number is kept
d) Tell a friend his PIN so he can help him remember it

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