FDIC Money: How It Works, Deposit Insurance & Banking Protection Explained
_________is the part of your monthly payment used to pay back the money you borrowed.
Principal
Interest
Taxes
Insurance - ✔✔Interest
You went car shopping last week and discussed auto loans with your car dealer. Then , you
shopped around onlined at several area banks and found an auto loan with a much lower APR
than what your car dealer had offered. You monthly auto loan payment is now $200.00 for 60
months. If you had gone with the car dealer's offer, it would have been $ 225.00 for 60 months.
How much money will you save with the new loan over the next five years?
$ 2,ooo.oo
$1,500.00
$1,000.00
$500.00 - ✔✔$1,500.00
Review the table on your screen to answer the following question. How much will chris save by
making the minimum payment on his credit card bill plus$25 as opposed to just paying the
minimum payment?
$150
$299
$401
$503 - ✔✔$401
The main cost of borrowing money is called - ✔✔Interest
,Paying yourself first means: - ✔✔determining how much you want to save each month and
putting that money aside immediately upon earnin
.Mr. and Mrs. Larsen own a home and positive net worth, both of which helped them get an
unsecured loan when they needed to replace their roof. Which of the Four C'S that represent?
A. Capacity
Capital
C.Character
D.collateral - ✔✔Capital
which of the following are federally insured financial institutions ?
a. banks and thirst
b.credit unions
c. both a and b - ✔✔c. both a and b
which of the following is a good reason to use a bank .
a.your money is insured up the maximum amount allowed by law.
b. your money is safe from theft, loss and fine.
c. you can access your money quickly and easily
d.all of the above - ✔✔all of the above
which bank employees can a check for your? - ✔✔bank teller
the best type of account to use for paying everyday bills is saving account.
a. true
b.false - ✔✔false
, investments in non-deposit accounts are not insured by the FDIC, meaning you could live some
lord all the money you invest.
a.stocks
b.mutual funds
c bound
d. all of the above - ✔✔all of the above
before you can open a new bank account, you will likely need to provide. - ✔✔photo
identification, social security or in number
time does not make sense to shop around before opening a checking a savings account because
most financial institutions offer the same services, fees and interest rates.
a.ture
b. false - ✔✔b.false
you receive $1,200.00 paycheck and deposit the entire amount into your bank account. your
opening balance was $300.00. what is your new balance ?
a.$900.00
b$ 1,000.00
c. $ 1,200.00
d. $ 1,500.00 - ✔✔d. 1,500.00
your paycheck has cleared your balance is now $1,500.00 . on Monday, you write check for
$35.00. 0n Tuesday, your run a few errands and withdraw $20.00 from an ATM. what is your
new balance
a. $1,445.00
b. $ 1,480.00
c. $1,520.00
_________is the part of your monthly payment used to pay back the money you borrowed.
Principal
Interest
Taxes
Insurance - ✔✔Interest
You went car shopping last week and discussed auto loans with your car dealer. Then , you
shopped around onlined at several area banks and found an auto loan with a much lower APR
than what your car dealer had offered. You monthly auto loan payment is now $200.00 for 60
months. If you had gone with the car dealer's offer, it would have been $ 225.00 for 60 months.
How much money will you save with the new loan over the next five years?
$ 2,ooo.oo
$1,500.00
$1,000.00
$500.00 - ✔✔$1,500.00
Review the table on your screen to answer the following question. How much will chris save by
making the minimum payment on his credit card bill plus$25 as opposed to just paying the
minimum payment?
$150
$299
$401
$503 - ✔✔$401
The main cost of borrowing money is called - ✔✔Interest
,Paying yourself first means: - ✔✔determining how much you want to save each month and
putting that money aside immediately upon earnin
.Mr. and Mrs. Larsen own a home and positive net worth, both of which helped them get an
unsecured loan when they needed to replace their roof. Which of the Four C'S that represent?
A. Capacity
Capital
C.Character
D.collateral - ✔✔Capital
which of the following are federally insured financial institutions ?
a. banks and thirst
b.credit unions
c. both a and b - ✔✔c. both a and b
which of the following is a good reason to use a bank .
a.your money is insured up the maximum amount allowed by law.
b. your money is safe from theft, loss and fine.
c. you can access your money quickly and easily
d.all of the above - ✔✔all of the above
which bank employees can a check for your? - ✔✔bank teller
the best type of account to use for paying everyday bills is saving account.
a. true
b.false - ✔✔false
, investments in non-deposit accounts are not insured by the FDIC, meaning you could live some
lord all the money you invest.
a.stocks
b.mutual funds
c bound
d. all of the above - ✔✔all of the above
before you can open a new bank account, you will likely need to provide. - ✔✔photo
identification, social security or in number
time does not make sense to shop around before opening a checking a savings account because
most financial institutions offer the same services, fees and interest rates.
a.ture
b. false - ✔✔b.false
you receive $1,200.00 paycheck and deposit the entire amount into your bank account. your
opening balance was $300.00. what is your new balance ?
a.$900.00
b$ 1,000.00
c. $ 1,200.00
d. $ 1,500.00 - ✔✔d. 1,500.00
your paycheck has cleared your balance is now $1,500.00 . on Monday, you write check for
$35.00. 0n Tuesday, your run a few errands and withdraw $20.00 from an ATM. what is your
new balance
a. $1,445.00
b. $ 1,480.00
c. $1,520.00
