Money, Banking, Personal Finance Vocab Test

Front

Fiat money is:

Back

paper money made legal tender by law.

Front

Commodity money:

Back

money with alternative use as an economic good.

Front

Demand deposit accounts allow access to funds via check or debit card.

Back

Funds can be removed from the bank by check or debit card.

Front

Legal tender is:

Back

currency that must be accepted for payment by law.

Front

Federal Deposit Insurance Corporation (FDIC)

Back

U.S. government institution providing deposit insurance.

Front

Credit union:

Back

Nonprofit service cooperative providing financial services.

Front

Stock:

Back

Certificate of ownership in a corporation.

Front

Shareholder:

Back

Person who owns shares of stock in a corporation.

Front

Certificates of Deposit (CDs) are:

Back

A certificate issued by a bank for depositing money for a set time.

Front

Financial assets?

Back

Stocks or investments with value.