Banking and checking kahoot

  1. For how much does FDIC insure deposits?

    1. $250,000

  2. Why is inflation a concern for most people?

    1. The costs of everyday goods increases

  3. Why might a young adult be concerned about interest rates?

    1. Student loans will be more expensive to pay back

  4. What are the 2 reasons most adult Americans have a checking account?

    1. Security and convenience

  5. Which of the following does the Fed NOT do?

    1. Print money

  6. The person writing the check

    1. Payer

  7. The signature on the back of a check (for deposit)

    1. Endorsement

  8. The general rise in the cost of goods and services over time

    1. Inflation

  9. The person to whom a check is written

    1. Payee

  10. Checks that have cleared the bank

    1. Canceled checks

  11. Paper money

    1. Currency

  12. Moving money online from one account to another

    1. Electronic Transfer (ET)

  13. Trading good/services without using money

    1. Bartering

  14. An order to a bank to pay a specific sum of money to a specified person or business

    1. Check

  15. Attempting to withdraw more money than you have in an account

    1. Overdrawing

  16. The total amount of money in an account on any certain date

    1. Account Balance

  17. A certificate that allows the stated payee to receive cash on demand (Usually for sending money overseas)

    1. Money Order

  18. A personal check that has been stamped by a bank officer showing that the funds are available in the account

    1. Certified Check

  19. A system that allows employers to deposit paychecks directly into an employee’s account

    1. Direct Deposit

  20. Checks for a fixed atm that will be replaced if lost/stolen. Used when on vacation, especially overseas

    1. Traveler’s checks

  21. A pre-paid check that draws on the money of the bank that issued it. The bank is the payer

    1. Cashier’s check

  22. A computer terminal that you can use to make deposits, withdrawal cash, ect

    1. ATM

  23. Cards that operate like electronic checks with the transactions directly impacting one’s checking account

    1. Debit cards

  24. A paper record that everyone should use to keep track of transactions affecting their checking account

    1. Check register

  25. A bank account that allows depositors to write checks, use a debit card, ect

    1. Checking account

  26. A paper record you receive from the bank with all of your recent transactions that have cleared 

    1. Bank Statement

  27. Metal boxes housed at a bank that can only be accessed by the owner or authorized person

    1. Safe deposit box