Group 4: Lessons 3-1 & 3-2: Loretta, Elisha, Ethan, Ariel, Allen

Front

True or False: A net interest margin is the difference between the interest banks earn on their loans, and the interest banks pay to their depositors.

Back

True

Front

This person is someone who owes money to another

Back

Debtor

Front

True or False: A deposit is a sum of money securely stored at a bank.

Back

True

Front

Which of the following are NOT banking services? Secure storage, Easy access to funds, Checking account balances, Online banking conveniences

Back

Checking account balances

Front

A sum of money borrowed with the expectation to be paid back with interest over a specified period of time

Back

Loan

Front

A macroeconomic policy that stimulates the economy and determines the amount of money in circulation

Back

Monetary Policy

Front

What does FDIC stand for?

Back

Federal Deposit Insurance Corporation

Front

True or False: A check is a form of payment that is dated and signed by the payee, directing the payee's bank to pay a specific amount of money to the payor the check is written.

Back

False

Front

This 9-digit code is used to identify a bank in a transaction

Back

Routing number

Front

An electronic method of payment where the funds are deducted directly from the card owner's bank account

Back

Debit card