BSS I Proficiency Test Semester 2

Money is deposited with a financial institution for investment purposes and/or safekeeping into what is known as a(n)?

• Bond

• Check

• Account

What does ATM stand for?

• All Transactions Move

• Automated Teller Machine

• Any Transfer of Money

In banking, this refers to the amount of money in a particular account. In credit it means the amount that is owed.

• balance

• capital

• check card

A check that a bank has refused to pay (also known as honor) or cash because there are no funds to cover it in the account?

• Bounced check/NSF check

• Checking account

• Check card

A "used" check that has been paid and subtracted from the check writer's account

• Charge account

• Canceled check

• Credit Union

A plastic card that gives access to a line of credit, and is to be paid back in full every month?

• Check card

• Charge/Credit Card

• Credit Union

The form used to instruct a bank to pay money from the writer's account?

• Balance

• Cash

• Check

An account in which the holder can write checks. This type of account pays less interest than savings accounts, or none at all?

• Savings Accoun

• Checking Account

• Credit Score

A check is said to "______" when its amount is debited (subtracted) from the payer's account and credited (added) to the payee's account

• Clear

• Deposit

• Charge

In business, buying or borrowing on the promise to repay at a later date is known as?

• Credit

• Deposit

• Check