PoBMF - CH 19 PERSONAL BANKING & INVESTMENTS Review

The variety of products and services offered to customers by financial institutions are called ____.

• loans

• banking products and services

• money managers

• checking accounts

Purchasing a financial product or valuable item with the goal of increasing wealth over time is called ____.

• accounting

• financing

• investing

• banking

A(n) ____ is a record of checks, ATM transactions, deposits, and charges on an account.

• credit report

• account portfolio

• bank statement

• savings certificate

A collection of securities and other assets a person owns is called a(n) ____.

• investment portfolio

• savings account

• account portfolio

• mutual fund

A(n) ____ is a savings account that requires a deposit of a fixed amount of money for a fixed period of time or term.

• mutual fund

• certificate of deposit

• high-yield savings account

• interest-bearing savings account

A ____ is an individual retirement account to which individuals contribute after-tax income and qualified withdrawals are not taxed.

• traditional IRA

• money market account

• savings account

• Roth IRA

An investment created by pooling the money of many people and investing it in a collection of securities is called a ____.

• savings account

• mutual fund

• personal investment plan

• checking account

A strategy for using money to reach important goals and to advance financial security is called a(n) ____ plan.

• investment

• security

• savings

• checking

A(n) ____ is a signature on the back of a check.

• authorization

• endorsement

• payee

• executor

____ is a service offered by some banks in which money is immediately transferred from one person to another.

• mobile banking

• ATM transactions

• online banking

• P2P payments