FA Unit 3 Vocabulary Review

A main account where your money typically sits in the bank. It is the most volatile due to the constant moving of money.

• Checking Account

• Savings Account

• Interest

• Deposit Slip

Tags

CCSS.RI.3.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.11-12.4

A bank issue paper agreement to pay someone.

• Check

• Deposit

• Charity

• Donation

Tags

CCSS.L.5.5C

What is an EFT?

• Electronic Funds Transfer

• Electronic Funds Transaction

• Electronic Form Transaction

• Emailed Form Trial

Tags

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.4.10

A type of EFT that puts money straight to your bank account

• Direct Deposit

• Deposit Slip

• Check

• Online Transaction

These apply when you do not have enough money in your account to make a transaction.

• Overdraft Protection Fee

• Maintnance Fee

• Interest

• INSF

True or False? Interest is paid means you are the borrower of money.

• True
• False

Funds can be "held" to ensure a transaction ______.

• Cancels

• delays

• clears

• confirms

Tags

CCSS.RI.3.10

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.4.10

How many people can access a joint account's money?

• One, just the initial creator

• Maximum of 2

• Any who are a part of the account

• One, whoever's name is first on the account.

Which of the following is money into your account? Select all that apply?

• Fees

• Loans

• Deposits

• Credits

• Debits

The number that appears on checks, deposits and bank statements

• Account number
• Social security number
• Driver's license number
• Passport number