True/False Indicate whether the sentence or statement is true or
false.
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1
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“PIN” is an acronym for “Personal Identification
Number”.
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2
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Credit unions are regulated by the National Credit Union Administration (NCUA),
a federal agency similar to the FDIC.
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3
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A NOW Account can be viewed either as a savings account on which checks can be
written or a checking account that earns interest; the number of checks written during a certain
period of time (usually a month) is generally limited; it does pay interest, but not as much as a
regular savings account.
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Multiple Choice Identify the letter of the choice that best
completes the statement or answers the question.
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4
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An investment that can be turned into cash quickly is known as a ......
a | outstanding investment | c | solid investment | b | liquid investment | d | cash investment |
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5
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The sum of the daily balances divided by the number of days in the month for a
specified account is the definition for....
a | minimum monthly balance | c | average monthly balance | b | average quarterly
balance | d | minimum daily
balance |
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Completion Complete each sentence or statement.
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6
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Capable of meeting financial obligations is the definition for what term?
(spelling counts!!)
____________________
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7
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What organization (acronym only - all CAPS) insures your money if it is kept in
a Savings and Loan? (used to be SAIF)
__________________
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8
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The amount paid for the use of money is the definition
for.....
__________________
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9
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To open a savings account, you must sign a _______ ________,
deposit at least $1, and you will receive either a savings account passbook or a savings account
register.
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10
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What does ‘APR’ stand for? (capitalize each word; spelling
counts)
______________ _____________ ______________
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