Banking

John has misplaced his debit card, but needs to mail a payment for an electricity bill. What other form of payment can he use?

• Debit Card

• ATM Card

• Check

• Credit Card

Which of the following is digital currency that does not have a physical form?

• Cryptocurrency

• Coinage

• Currency

If Ryan is purchasing a sandwhich, he is using money as:

• A store of value

• A medium of exchange

• Unit of Measure

A financial intermediary is an entity that act as (an) ------------------- between to parties in a financial transaction.

(a)  

This financial institution can only be accessed using a computer or smart device. What type of institution is this?

• Credit Union

• Commercial Bank

• Online Bank

What is interest?

• A fee paid giveaway to someone else's money

• A fee paid to invest someone else's money

• A fee paid to save someone else's money

• A fee paid to use someone else's money

What type of account is used regularly and handles day-to-day transactions?

• Savings

• Line of credit

• Money Market

• Checking

What is the purpose of a bank?

• A financial Intermediary

• A financial investigator

• A financial Advisor

• A financial Tracker

Frank has ten dollars, if he does not spend any of the money, it will keep its worth of ten dollars. How is he using the money?

• A unit of measure

• A medium of exchange

• A store of value

Who guarantees currency?

• The FDIC

• The financial institution that issued the money

• The country of issue

• The person who holds the money