Module 5 Lesson 2 - Bill payment methods

Flashcard
•
Mathematics
•
10th - 11th Grade
•
Hard
+3
Standards-aligned
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1.
FLASHCARD QUESTION
Front
What is online bill pay?
Back
A method of paying bills electronically through a bank or financial institution's website, allowing for scheduled and automatic payments.
2.
FLASHCARD QUESTION
Front
What is a check?
Back
A written order directing a bank to pay a specific amount of money from the writer's account to the person named on the check.
3.
FLASHCARD QUESTION
Front
What is a debit card?
Back
A payment card that deducts money directly from a consumer's checking account to pay for a purchase.
4.
FLASHCARD QUESTION
Front
What is automatic payment?
Back
A payment method where funds are automatically withdrawn from a bank account on a scheduled basis to pay bills.
5.
FLASHCARD QUESTION
Front
What are the risks associated with using a debit card?
Back
Identity theft and unauthorized transactions if the card information is compromised.
6.
FLASHCARD QUESTION
Front
What is the main advantage of using online bill pay?
Back
Convenience of managing and scheduling payments from anywhere with internet access.
Tags
CCSS.RI.11-12.3
CCSS.RI.11-12.5
CCSS.RI.8.5
CCSS.RI.9-10.3
CCSS.RI.9-10.5
7.
FLASHCARD QUESTION
Front
What is the disadvantage of using cash for payments?
Back
Risk of losing receipts and difficulty in tracking expenses.
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