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Questions (60) Hide all answers
Annual Compounding Semi-Annual Compounding
Daily Compounding Monthly Compounding
compound; lowest compund, highest
simple; lowest simple; highest
Certi�cate of Deposit (CD) Money Market Account
Savings Account Checking Account
Compounding 1 time a year Compounding 4 times a year
Compounding monthly Compounding daily
Personal Finance Capstone 1A public quiz for classroomPersonal Finance review of Banking, Savings, Payment TypesMore info
Q1: Which interest should you choose if you want the best rate of return on your interest?
20 sec
Q2: To earn the most, open a savings account that earns ___interest and has the ___ interest rate.
20 sec
Q3: This account is best to earn the most interest if you won't need access money for a full year.
20 sec
Q4: Which compounding frequency will earn you the MOST money?
20 sec
Q5: Which of the following actions would enable you to earn MORE interest?
20 sec Play
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Selecting an account with a high interest rate. Leaving his money in the account for long period of time.
Transferring money into his checking account each month. Both A & B
Certi�cate of Deposit Money Market Account
Checking Account Both A & B
a charge for lending money to a bank the amount owed for borrowing money
amount added into your savings when opening a bank account charge for convenience of accessing money in bank account
Savings vehicles are only useful for long-term investments. You should evaluate different forms of SV based on needs.
Savings vehicles are never insured. All of the above
Food Pizza
Gatorade Fruit
Budget for your needs before your wants. Budget for unexpected events in before expected expenses.
Budget for �xed expenses before �exible expenses. Budget for expected events before unexpected expenses.
Q6: Which of the following is a type of savings vehicle?
20 sec
Q7: Interest is
20 sec
Q8: Which of the following is generally true about savings vehicles (SV)?
20 sec
Q9: Which of the following is considered a "need"?
20 sec
Q10: Which of the following is the most important consideration when planning your budget?
20 sec
Q11: Which of the following savings vehicles usually requires a high minimum balance?Play
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Simple savings account Certi�cate of Deposit (CD)
Checking account All of the above
Checking Account Money Market Account
Certi�cate of Deposit (CD) Investment Retirement Account (IRA)
plan how you will spend the money you earn or receive. stop you from spending too much money.
increase the balance of your savings account tell you how much you owe the government in taxes
Going to the movies with friends. Buy fewer school books.
Transportation to get to and from school. Purchasing medicine for their asthma.
A warm winter coat Shoes
Designer Sneakers Socks
Longer time period usually equals higher interest rates. Shorter time period usually equals higher interest rates.
Shorter time periods have no effect on interest rates. Longer time periods have no effect on interest rates.
20 sec
Q12: This account typically has very high liquidity, low or no interest, and low minimum balance.20 sec
Q13: The purpose of a budget is to:
20 sec
Q14: If you overspend and in need of a budget. What type of expense should they reduce next month?
20 sec
Q15: Which of the following is considered a "want"?
20 sec
Q16: What is the typical relationship between time and interest rate?
20 sec
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Certi�cate of Deposit (CD) Money Market Account
Savings Account Checking Account
Keep most of your savings in your checking account Put aside money for savings each month
Choose the savings account with the lowest interest rate Put anything you can’t afford on your credit card
Annual Compounding Semi-Annual Compounding
Monthly Compounding Daily Compounding
Establish monetary policy Collect taxes
Write monetary laws Print money
Credit Union Online Commercial Bank
Commercial Bank Federal Reserve Bank
Overdraft fee Monthly service fee
Account transfer fee ATM fee
Q17: You have $300, expect to spend the money in the next few weeks. What account will be best?
20 sec
Q18: When it comes to saving money, what is a good rule of thumb?
20 sec
Q19: Which requires you to pay the lowest amount in interest?
20 sec
Q20: Which of the following is a primary responsibility of the Federal Reserve Bank?
20 sec
Q21: Which type of �nancial institution typically has membership requirements?
20 sec
Q22: Which of the following fees would likely be the highest?
20 sec
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lower higher
Checking Account Savings Account
Money Market Account Certi�cate of Deposit (CD)
easier harder
Checking account Savings account
Certi�cate of Deposit Exchange Traded Fund
Board of Governors Department of the Treasury
United States Mint Secretary of State
Social Security Number Routing number
Check Number Account Number
Q23: Savings accounts usually offer _________ interest rates than checking accounts.
20 sec
Q24: Which type of account will typically have the highest interest rate?
20 sec
Q25: It is _________to access your money in a savings account than in a checking account.
20 sec
Q26: Which type of account is the MOST liquid?
20 sec
Q27: The three parts of the Federal Reserve System are the Reserve Banks, the FOMC, and the:
20 sec
Q28: The numbers on the bottom of a typical check represent all of the following EXCEPT?
20 sec
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Credit unions are typically owned and run by their members. Credit unions offer a wide variety of banking services.
Credit unions limit membership to certain people or groups. All of the above!
Credit Union Payday lender
Online Bank Retail bank
ATM fee minimum balance fee
Service fee all of the above
Checking Account Money Market Account
Savings Account Certi�cate of Deposit (CD)
Supervising reserve banks setting the nation's monetary policy
maintaining a stable banking system establishing the federal budget
Monthly Yearly
Daily Every 3 months
Q29: Which of the following is a unique feature of credit unions?
20 sec
Q30: Which of the following is not a type of bank?
20 sec
Q31: Which of the following represent typical account fees?
20 sec
Q32: Which type of account typically has low liquidity?
20 sec
Q33: What is NOT a responsibility of the Federal Reserve?
20 sec
Q34: How often should you typically monitor your checking account?
20 sec
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Daily Every 3 months
To help calculate how much money you have in your account To keep an estimation of how many checks you write
To �nd out which checks you have bounced To stop identity theft from occurring
Board of Governors Federal Open Market Committee
Regional Reserve Banks Department of the Treasury
Simple savings account Certi�cate of Deposit (CD)
Checking account Cash
Check number Routing number
signature line memo line
Only use ATMs close to your house Only use ATMs in your bank's networks
Only use ATMs to withdraw cash Only use ATMs you have used before
Q35: What’s the purpose of balancing or monitoring your checking account?
20 sec
Q36: Which of the following is NOT a core component of the Federal Reserve Bank?
20 sec
Q37: Which of the following accounts will give you the LEAST access to your money?
20 sec
Q38: What part of a check is the LEAST important?
20 sec
Q39: What's the best strategy for avoiding ATM fees?
20 sec
Q40: With a traditional savings account, you could be charged a fee if:
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You deposit too much money at once You open an account online
You withdraw money too often You close the account
money order cashier's check
pre-paid card all of the above
debit cards allow you to draw funds from your checking acct. debit cards typically offer greater fraud protection
debit cards never require a signature to �nalize a purchase debit cards charge higher interest rates on purchases
credit cards debit cards
payday loans cash advances
credit cards cashier's checks
pre-paid cards payday loans
Low APR High annual fees
Lots of credit rewards A small credit limit
Q41: Which of the following payment types require you to pay upfront?
20 sec
Q42: which of the following statements comparing debit cards to credit cards is TRUE?
20 sec
Q43: Which payment type can help you stick to a budget?
20 sec
Q44: which payment method typically charges the highest interest rates?
20 sec
Q45: If you carry a large balance on your credit card, which credit card feature is most important?
20 sec
Q46: Making a minimum payment:
20 sec
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means you are paying a small portion of the credit card debt is the same thing as making a late credit card payment
will have a negative effect on your credit score will cause your credit card to be cancelled
the amount of interest you must pay the credit card company the required minimum payment to your credit card company
A way to track your incoming and outgoing purchases the amount of money you still owe to the credit card company
paying the minimum missing a credit card payment
paying off the full balance cashing in on rewards points
time period grace period
credit limit credit balance
True False
late fee annual membership fee
balance transfer fee minimum payment fee
20 sec
Q47: What is a credit card balance?
20 sec
Q48: Which of the following can increase your credit card's APR?
20 sec
Q49: Amount of time you have to pay back a balance before it starts accumulating interest
20 sec
Q50: When you use a credit card, the money comes directly out of your account.
20 sec
Q51: Which of the following is NOT a common credit card fee?
20 sec
Q52: Credit cards typically offer more fraud protection than debit cards. Play
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True False
credit card debit card
credit card debit card
check
Balance your checkbook annually Shred your paper account statements weekly
Call your customer service center daily Monitor your online accounts regularly
Minimum payments are only 2% to 4% of your total debt Sending a minimum payment, you will be charged a late fee
You will still pay interest if you pay the minimum payment Paying a min means you are paying off a portion of your bal
Debit cards draw funds directly from checking. Debit cards offer greater fraud protection.
Debit cards never require a signature like credit cards. Debit cards have a higher interest than credit cards.
20 sec
Q53: Another name for check card:
20 sec
Q54: you can make electronic purchases that debit the cost of the purch from your checking acct.
20 sec
Q55: The best way to ensure the accuracy and safety of your accounts is to:
20 sec
Q56: Which of the following statements about minimum payments is INCORRECT?
20 sec
Q57: Which of the following statements comparing debit cards to credit cards is TRUE?
20 sec
Q58: Transactions made with a credit card can impact your credit score.
20 sec Play
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True False
late payment fee balance transfer fee
annual membership fee reload fee
The amount of interest you are charged The amount your credit limit can go up within a year
How many credit cards that you can own None of the above.
Resource creditsDescription: ever�.com
Q59: All of the following are fees typically charged by credit card companies EXCEPT:
20 sec
Q60: The annual percentage rate on a credit card determines ___.
20 sec
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