This type of financial institution is open to all members of
the public and does not restrict membership. What are banks?
Slide 5
This type of financial institution restricts membership to only
certain member groups (like teachers or military). What is a credit
union?
Slide 6
Slide 7
These parts of a check must always be filled out. What are the
date, recipient (Pay to the Order of), amount in numbers, amount in
words, and signature line.?
Slide 8
This part of a check is optional and does not need to be filled
in to make a valid check. What is the Memo line?
Slide 9
You are doing this when you ensure all your banking
transactions are recorded in your checkbook and the balance in your
register matches your bank statement once you account for
outstanding checks and deposits. What is balance your check
book?
Slide 10
This type of bank card can only be used at Automated Teller
Machines (ATMs). What is an ATM card?
Slide 11
This type of bank card can be used at Automated Teller Machines
(ATMs) and to make purchases. What is a debit card?
Slide 12
This type of bank card is used as a convenient way to make a
purchase where the money comes directly out of your bank account.
What is a debit card?
Slide 13
This is the more common term for an overdraft check. What is a
bounced check ?
Slide 14
This type of bank card is used as a convenient way to borrow
money from a company. What is a credit card?
Slide 15
How much you will be charged in interest annually on an
outstanding balance expressed as a percentage is this. What is the
Annual Percentage Rate (APR)?
Slide 16
This is the term for a low temporary interest rate used to
entice customers to apply for a credit card and the rate goes up
after a short period of time. What is an introductory rate?
Slide 17
Slide 18
The three major credit reporting agencies. Who are Experian,
Equifax, and Trans Union?
Slide 19
This is the company that came up with credit scores. Who is
Fair, Isaac, and Company?
Slide 20
The Web site you can go to and get your credit reports for
free. What is www.annualcreditreport.com?
Slide 21
Slide 22
The two factors that have the greatest influence on your credit
score. What are credit history and credit amounts?
Slide 23
Slide 24
Three ways you can build up a better credit score. What are get
a savings account at a local bank & keep a steady or increasing
amount of money in it, get a debit card for your checking account
& ensure you keep a cushion of money in the account, and open a
credit card & maintain it in good standing with the
company?
Slide 25
You are doing this type of shopping when you are trying to find
a product with the best combination of price and features. What is
an comparison shopping?
Slide 26
Slide 27
These are products covered by the Food & Drug
Administration. What are food, drugs, cosmetics medical devices,
and radiation-emitting devices?
Slide 28
True or False: warranties are for as long as you own a product
What is a FALSE?
Slide 29
True or False: warranties may be canceled if the product is
used incorrectly. What is a TRUE?
Slide 30
True or False: your first name or birthday is a good password
for online banking since it will be easy for you to remember. What
is FALSE?
Slide 31
Slide 32
Three features of online banking. What are the ability to check
balances on accounts using Web access to your account, the ability
to transfer money between your accounts using Web access to your
account, and the ability to pay bills electronically ?
Slide 33
True or False: if you click on a link in an e-mail to access
your bank account and the address comes up as http:// instead if
https:// then it is probably a phishing Web site and not your banks
site. What is TRUE?
Slide 34
True or False: if you receive an e- mail from your bank telling
you to click on a link in that e-mail to their site so you can
verify your account information then the e-mail is probably from a
phishing Web site and not your bank. What is TRUE?
Slide 35
This is something you claim on your W-4 Form when getting a job
that will reduce the amount of income tax withheld from each
paycheck. What is a tax exemption?
Slide 36
This is something you claim on your 1040/1040A/1040EZ tax
return that reduces your taxable income. What is a tax
deduction?
Slide 37
This is the sum total of all wages and salary and interest and
other earnings you make in a year. What is your gross income?
Slide 38
This is your gross income minus your allowed deductions. What
is your taxable income?
Slide 39
If your itemized deductions are greater than the standard
deduction then you should use this type of deduction to compute
your taxable income and reduce your tax liability by the greatest
amount. What are itemized deductions?
Slide 40
If your standard deduction is greater than your itemized
deductions then you should use this type of deduction to compute
your taxable income and reduce your tax liability by the greatest
amount. What is the standard deduction?
Slide 41
This is the percentage of your pay that is withheld for FICA
Social Security payroll taxes. What is 6.2%?
Slide 42
This is the percentage of your pay that is withheld for FICA
Medicare payroll taxes. What is 1.45%?
Slide 43
This is the quickest way to receive your refund if due a tax
refund from the IRS. What is file electronically and receive the
refund electronically?
