FREE FINANCE AND STUDY GAMES ABOUT BANZAI

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FREE FINANCE AND STUDY GAMES ABOUT BANZAI

VOCABULARY EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -29 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: Transfer

Answer:

When money is moved from one account to another.

Question 2: Balance

Answer:

An amount available or owed on an account.

Question 3: Credit Card

Answer:

Allows you to make purchases and pay for them at a later date.

Question 4: Auto Insurance

Answer:

Protects against losses to property and injuries to people in a car accident.

Question 5: Utilities

Answer:

A term used to reference electric, water, gas, and other services.

Question 6: Deposit

Answer:

Money placed into an account.

Question 7: Budget

Answer:

Plan used to decide the amount of money to spend, and how it will be spent.

Question 8: Renters Insurance

Answer:

Covers your personal property in a rented apartment or home.

Question 9: Expense

Answer:

Anything you spend money on.

Question 10: Health Insurance

Answer:

Insurance that covers medical illness or injury.

Question 11: ATM

Answer:

Used to withdraw cash from a checking account.

Question 12: Paystub

Answer:

A document that comes with your paycheck, showing how much you were paid and how much was withheld for taxes.

Question 13: Overdraft

Answer:

Credit extended from a financial institution when an account has insufficient funds. Usually results in a fee.

Question 14: Loan

Answer:

Money lent to someone else in exchange for future payment.

Question 15: Direct Deposit

Answer:

Paycheck that is electronically transferred into your account.

Question 16: Cleared Check

Answer:

When money has transferred from the account of the payer to the payee.

Question 17: Savings Account

Answer:

Account for storing or saving money with limited withdrawals.

Question 18: Check

Answer:

An order to pay another person an amount of money from your account.

Question 19: Net Pay

Answer:

The amount of a paycheck after taxes are subtracted from Gross Pay.

Question 20: Gross Pay

Answer:

The total amount of a paycheck before taxes.

Question 21: Debit Card

Answer:

Used to make purchases with funds directly from a checking account.

Question 22: Interest Rate

Answer:

The percentage cost of borrowing from someone else.

Question 23: Insurance

Answer:

A product offered by a company promising to protect you from specific financial risks.

Question 24: Check Register

Answer:

Record of all deposits to and withdrawals from a checking account.

Question 25: Income

Answer:

Money earned through work.

Question 26: Reconciliation

Answer:

A way to balance your account records with your bank or credit union.

Question 27: Debt

Answer:

The amount you owe on a loan.

Question 28: Checking Account

Answer:

Account where money can be withdrawn with checks or a debit card.