Ch 26 Banking and Saving

A type of mutual fund that deals only in high-interest, short term investments.

• stocks

• bonds

• money market fund

• IRA

A tax deferred retirement plan available in two types - traditional and ROTH.

• Individual Retirement Account (IRA)

• Internal Revenue Service (IRS)

• Individual Savings Accounts (ISA)

Remote computer terminal used to make financial transactions.

• Automated teller machine (ATM)

• Automatic teller machine

• Auto teller machine

Check drawn on the bank's fund and signed by bank officer.

• certified check

• cashier's check

For Deposit Only is a _____________ endorsement.

• Restrictive

• blank

When you sign only your name on the back of the check.

• blank endorsement

• restrictive endorsement.

A method in which savings earn interest on any interest already earned.

• simple interest

• compound interest

A savings method in which money is deposited for a specific period of time (usually 1 year, 5 years, 10 years) and earns a set annual rate of interest.

• Certificate of debt

• Certificate of deposit

• certificate of death

A company that collects money from a number of investors and invests the money in securities.

• mutual fund

• money market fund

• IRA

An order for a specific amount of money payable to a specific payee.

• money order

• money matic

• paper money