PersonalFinanceChapter4
Common payment choices for everyday activities include all of the follow except: Cash Check Credit Card Short Term Loan Debit Card
Short Term loan
A drawback of a regular savings account is
a low rate of return
Jason
221
Evan
450,000
Brenda
50
Which of the following is NOT required when writing a check The amount of check written in words The date written A driver's license number The name of person or organization receiving payment A signature
A driver's license number
Which of the following primarily provides loans for home purchases?
A mortgage company
Which for the following will likely provide the most expensive loans? A credit card company a life insurance company a finance company a payday loan company
A payday loan company
If you want to buy a U.S. savings bonds, you may purchase them through
A treasury direct account
Will
An interest-earning checking account
Chloe signed the back of her check with just her signature. She used a
Blank endorsement
Earning interest on previously earned interest is called
Compounding
A commercial bank is the same thing as a credit union
False
A savings account is also known as demand deposit
False
A credit card is a type of
Loan/ borrowing
Wanda bought a certificate of deposit and automatically received a free bike. She purchased a
Promotional CD
ATM stands for
automatic teller machine
When Imogene brought a necklace to a _______, she received a loan based on its value.
pawnshop
Kylie went to a post office to obtain a
money order
Louise got caught
payday loan company