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
