Chapter 10 - Banking
Authored by Julianne Hogan
Education, Life Skills, Business
9th - 12th Grade
Used 13+ times
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22 questions
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1.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
This is an account that a depositor uses where the bank pays you interest (low amount) for letting it use your money
(a)
2.
MATCH QUESTION
1 min • 1 pt
Access your account by phone
Telephone Banking
A fee paid for the opportunity to use someone else's money over a period of time.
Electronic Funds Transfer (EFT)
A financial institution where you may deposit money.
Deposit Insurance
Insurance that protects your account when a bank fails.
Bank
The movement of funds by electronic means
Interest
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Loan is a lending of money that borrowers pay the bank interest (high amount) for money needed, allowing bank to make a profit.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Financial Services Modernization Act (1978) allowed financial institutions to consolidate the financial services they offer, which transformed the banking industry.
True
False
5.
MATCH QUESTION
1 min • 1 pt
Match the following Financial Institutions
originally specialized in providing funds to home buyers, but now provide a variety of services
Credit Unions
nonprofit and owned by its members of a certain group.
Internet-Only Banks
is owned by shareholders and operated for their profit.
Mutual Savings Banks
is not maintaining a branch office or employees, therefore passing the savings to customers.
Commercial Banks
state-chartered & are operated by trustees for the benefit of depositors
Savings and Loan
6.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
A document from the federal or state government that grants them the right to operate within certain legal limitations.
(a)
7.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
This is a federal agency that insures savings, checking, and other deposit accounts in most commercial banks, saving banks, and saving associations.
(a)
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