CFL Module 17 Exam Questions
with 100% Correct Answers.
Payroll card
A payroll card electronically carried the balance of the employee's net income.
Save
Setting aside money to meet future needs
Short term needs
Require money beyond what you can cover with your current paycheck
Long term needs
Require a lot of money
Financial security
Confident and prepared for future house hold needs and wants
Discretionary income
Amount of money left after bulls have been paid
Principal
Amount of money deposited by a saver
Interest
The price of money and earning on a saving account
Value
A belief about what is important to a person
Need
Something that is necessary
Want
, Something that is not necessary but desired
Spending plan
A tool to help people manage their money
Depository Institutions
savings bank, commercial bank, savings and loan associations, or credit unions that is legally
allowed to accept monetary deposits from consumers.
Commercial Banks
a bank that offers services to the general public and to companies.
Credit Unions
a nonprofit-making money cooperative whose members can borrow from pooled deposits at low
interest rates.
Savings and Loan Association
an institution that accepts savings at interest and lends money to savers chiefly for home
mortgage loans and may offer checking accounts and other services.
Brokerage Firms
is a financial institution that facilitates the buying and selling of financial securities between
a buyer and a seller.
Checkbook Register
is the journal used to record all of the checks, cash payments, and outlays of cash during
an accounting period.
Online banking
is an electronic payment system that enables customers of a bank or other financial institution
to conduct a range of financial transactions through the financial institution's website.
Credit
with 100% Correct Answers.
Payroll card
A payroll card electronically carried the balance of the employee's net income.
Save
Setting aside money to meet future needs
Short term needs
Require money beyond what you can cover with your current paycheck
Long term needs
Require a lot of money
Financial security
Confident and prepared for future house hold needs and wants
Discretionary income
Amount of money left after bulls have been paid
Principal
Amount of money deposited by a saver
Interest
The price of money and earning on a saving account
Value
A belief about what is important to a person
Need
Something that is necessary
Want
, Something that is not necessary but desired
Spending plan
A tool to help people manage their money
Depository Institutions
savings bank, commercial bank, savings and loan associations, or credit unions that is legally
allowed to accept monetary deposits from consumers.
Commercial Banks
a bank that offers services to the general public and to companies.
Credit Unions
a nonprofit-making money cooperative whose members can borrow from pooled deposits at low
interest rates.
Savings and Loan Association
an institution that accepts savings at interest and lends money to savers chiefly for home
mortgage loans and may offer checking accounts and other services.
Brokerage Firms
is a financial institution that facilitates the buying and selling of financial securities between
a buyer and a seller.
Checkbook Register
is the journal used to record all of the checks, cash payments, and outlays of cash during
an accounting period.
Online banking
is an electronic payment system that enables customers of a bank or other financial institution
to conduct a range of financial transactions through the financial institution's website.
Credit
