Banking Assessment Review | Baamboozle - Baamboozle

English 14 Public

NGPF Banking Unit Review

Study Slideshow

Which of the following is an effective strategy for personal saving?

Cover all of your wants and needs and save what is left

Save a percent of each paycheck and deposit it

Wait until the end of the month and save whatever is left

15

According to the 50-20-30 rule for budgeting, what percentage of your pay should go toward NEEDS?

50

30

20

15

According to the 50-20-30 rule for budgeting, what percentage of your pay should go towards SAVINGS?

20

50

30

15

According to the 50-20-30 rule for budgeting, what percentage of your pay should go towards WANTS?

50

30

20

15

How much do experts recommend you have in your emergency savings?

3 to 6 years

3 to 6 months

3 to 6 weeks

15

What does living paycheck to paycheck mean?

having a high paying job and not worrying about money

no money saved and your paycheck barely covers expenses

15

What is FDIC insurance?

Required if you want to do online or mobile banking

Optional insurance you can purchase so your deposit is safe

Protection for bank customers’ deposits up to $250,000

15

How often do customers typically receive a bank statement for their checking account?

Yearly

Monthly

Daily

15

Direct deposit typically refers to your ______ sending your ______ electronically to your bank account.

employer, bills

employer, paycheck

parents, allowance

15

Prepaid cards are a great way to build credit

FALSE

TRUE

15

A savings account pays you interest on money you have put away for later to help your money grow.

FALSE

TRUE

15

How far away is a short-term savings goals?

over 3 years away

3 months to 3 years

less than 3 months

15

How far away is a medium-term savings goals?

over 3 years away

3 months to 3 years

less than 3 months

15

How far away is a long-term savings goals?

3 months to 3 years

over 3 years away

less than 3 months

15