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