Davis- Money and Banking

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What is insurance?

Back

An arrangement in which you pay money each year to get financial help if anything bad happens to you, such as an illness or accident.

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What is an Automated Teller Machine (ATM)?

Back

A special machine through which you can do bank transactions, such as withdrawing cash or checking your balance.

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What is a bargain?

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A thing bought for less than the usual price.

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What is currency?

Back

The coins and paper bills used as money in a society.

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What is a mortgage?

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An arrangement by which people borrow money from a bank to buy a house and pay back the money over a period of years.

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What is a refund?

Back

Money that is returned to a buyer when they return a product or cancel a service.

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What is a cash dispenser?

Back

A machine that dispenses cash to customers, often found at banks or ATMs.

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What is an overdraft?

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An arrangement with a bank that allows a customer to withdraw more money than they have in their account.

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What is a bond?

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A fixed income investment in which an investor loans money to an entity for a defined period at a fixed interest rate.

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What is a check?

Back

A written order directing a bank to pay a specific amount of money from one person's account to another.