Understanding Financial Institutions and Concepts
Explore important topics in finance such as the Federal Deposit Insurance Corporation (FDIC), credit unions, stockholders, savings and loans, cyber banks, credit cards, due dates, creditors, credit limits, grace periods, and insurance agents to enhance your financial literacy journey.
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Presentation Transcript
Financial Institutions Credit Insurance Working My Money 1 1 1 1 1 2 2 2 2 2 3 3 3 3 3 4 4 4 4 4 5 5 5 5 5 2
This corporation insures your bank account What is the Federal Deposit Insurance Corporation, FDIC? 3
This financial institution is non-profit and member owned What is a credit union? 4
These individuals own most commercial banks What are stockholders? 5
This financial institution specializes in mortgages and savings deposits What is a savings and loan or thrift? 6
This bank has no tellers or branches What is a cyber bank? 7
Plastic that allows you to buy items and pay the debt at a later time What is a credit card? 8
The date your credit card payment is due to the creditor What is a due date? 9
Anyone to whom you owe money What is a creditor? 10
A credit card allows you to make charges up to this amount What is a credit limit? 11
After graduation, a Stafford Student Loan allows this six month period before payments begin What is a grace period? 12
A person who sells insurance policies Who is an agent, insurance agent? 13
A document that states the terms of your insurance contract What is a policy? 14
Regular payments you make to own an insurance policy What are premiums? 15
The first step in filing a claim for a fender bender What is contacting your insurance agent? 16
You pay the first $500 for car repairs following an accident What is a deductible? 17
Overtime pay is required after this many hours of work in a workweek What are 40 hours? 18
Your earnings include this type of compensation that is 10 percent of the value of each sale What is a commission? 19
Any item subtracted from gross pay What are deductions? 20
The minimum age to work in most retail establishments What is 14? 21
Under federal child labor laws, teenagers may work for any number of hours, after you reach this age What is 16? 22
Another name for a check card What is a debit card? 23
A person, other than the principal borrower, who signs for a loan and assumes equal liability What is a cosigner? 24
You pay for dry cleaning, groceries, and tennis shoes; only one is a service What is dry cleaning? 25
To avoid ATM fees this is the best strategy What is using your bank s ATMs? 26
Regular payments that dont vary in amount What are fixed expenses? 27
Daily Double! As a team, decide how many of the points you already have you wish to wager. If you get the question correct, you will earn double the points you wagered. If you get the question incorrect, you will lose the points you wagered. Good luck! 28
Daily Double! As a team, decide how many of the points you already have you wish to wager. If you get the question correct, you will earn double the points you wagered. If you get the question incorrect, you will lose the points you wagered. Good luck! 29
