Banking Unit Review - Vocabulary

Front

An ATM is a machine that allows a person to perform which of the following actions? Withdraw cash, Deposit checks, Transfer funds, All of the above

Back

All of the above

Front

Balance in the context of a bank account is defined as:

Back

The total amount of money in the account at a given time.

Front

A Bank Statement is a document that provides information about:

Back

The balance and transactions in a bank account over a specific period.

Front

A Check is a written, dated, and signed instrument that contains an unconditional order from the drawer that directs a bank to pay a definite sum of money to a payee.

Back

A Check is a written, dated, and signed instrument that directs a bank to pay a definite sum of money.

Front

A Check Register is used for:

Back

Recording financial transactions

Front

A Debit Card is connected to which type of bank account?

Back

Checking Account

Front

What does Deposit mean in banking terms?

Back

A sum of money placed in a bank account

Front

A Digital Wallet is a:

Back

Software application for making electronic transactions

Front

What does it mean to Endorse a check?

Back

To sign the back of the check to authorize its cashing or deposit

Front

FDIC Insurance offers protection for which of the following? Life Insurance, Health Insurance, Car Insurance

Back

Deposits in banks