Study Guide and Quiz

Question 1

What is a minimum balance?

Revolt · Accepted Answer

The smallest amount of money you can keep in a bank account

Question 2

If you plan to take money out of the bank frequently, what type of account should you get?

Revolt · Accepted Answer

A checking account

Question 3

What is most likely to happen if the Fed prints too much currency?

Revolt · Accepted Answer

An increase in inflation

Question 4

If your bank is a member of the FDIC, what does that mean for you?

Revolt · Accepted Answer

Your money is protected by insurance up to a specific amount.

Question 5

If you want to compare two different investments, what should you calculate?

Revolt · Accepted Answer

The ROI percentages

Question 6

As a unit of measure, money makes it easier for consumers to do what?

Revolt · Accepted Answer

Compare prices of different products.

Question 7

If you want to take advantage of compound interest, what should you do when an investment produces interest?

Revolt · Accepted Answer

Reinvest the interest.

Study Guide and Quiz Answers