Banking Unit - Final Exam Review

Banking Unit - Final Exam Review

Assessment

Flashcard

Financial Education

9th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

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24 questions

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1.

FLASHCARD QUESTION

Front

What does ATM stand for?

Back

Automatic Teller Machine

2.

FLASHCARD QUESTION

Front

What is a Bank Statement?

Back

A monthly document prepared by your financial institution which shows all of the transactions related to your account

3.

FLASHCARD QUESTION

Front

What is a Certificate Of Deposit (CD)?

Back

A bank product that earns interest on a lump-sum deposit that's untouched for a predetermined period of time

4.

FLASHCARD QUESTION

Front

What is a Debit Card?

Back

A card that is directly connected to your checking account; it enables you to conduct ATM transactions and to make purchases instead of using cash or writing a check.

5.

FLASHCARD QUESTION

Front

What is Direct Deposit?

Back

An automatic electronic deposit of net pay to an employee's designated bank account

6.

FLASHCARD QUESTION

Front

What does FDIC stand for?

Back

Federal Deposit Insurance Corporation

7.

FLASHCARD QUESTION

Front

What is Interest?

Back

A fee paid to you for keeping your money in an account OR a fee charged to you for a loan or credit card.

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