finance test

credit union

A financial institution formed by a large corporation for their employees is a _____.

convenience; accessibility even when you travel; open access all day, every day; quick transaction speed; efficiency because you can manage different accounts at one site.

Advantages of online banking include:

Start-up time Variable online services Changes to the web site The issue of security

Disadvantages of online banking include the following:

loan officer bank web sites customer service representative printed material bank teller

If you want more information about services available at a bank, you can use the following resources.

a money order

Mitchell does not have a checking account, but needs to pay a bill. By what means can Mitchell pay?

transfer money from one account to another pay bills from your computer view checking account transactions

Online banking tools allow you to _____.

savings and loans banks credit unions

The main types of financial institutions are _____.

tracking your spending using credit cards infrequently looking for bargains avoiding impulse purchases

Tips for spending wisely

an ATM card and a pin

To get money from an ATM, you need _____.

checking and savings

Two types of deposit accounts are _____.

locations of banks and ATMs fees services offered minimum balance

When selecting a financial institution that is the best for you, you should consider _____.

writing the amount in words writing the date writing the amount in numbers signing the front of the check

When writing a check, you complete all of these steps

view account balances order checks transfer money issue stop payment track recent account activity apply for loans pay bills gain information obtain a copy of a processed check

a list of services that most financial institutions offer:

budget insurance plan financial goals net worth statement savings and investing plan

all the parts of a financial plan

Record and subtract cash withdrawals from an ATM. Record and add interest. Record paycheck deposits in a check register. Balance the checking account.

all the tasks associated with maintaining a checking account

Mint Quicken BudgetTracker spreadsheet

online tools that allow you to create a budget to track your income and expenses