Banking Terms Quiz
Quiz
•
Business
•
11th Grade
•
Practice Problem
•
Hard
Melissa Chaffin
Used 13+ times
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16 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A stock of accumulated wealth used or available for producing more wealth.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A savings account in which an individual promises to deposit the money for a set period of time, for which the bank typically pays higher interest than a regular savings account.
Certificate of Deposit
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Anything a bank accepts as security against the debtor's not repaying a loan. If the debtor fails to repay the loan, the bank is allowed to keep the collateral.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Nongovernmental financial institutions. Sometimes called full-service banks because they provide a wide range of services, such as checking and savings account, credit loan arrangements and safety deposit box rentals.
Commercial Bank
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Interested calculated not only on the original principal, but also on the interest accrued.
Compound Interest
Noncompound interest
Accrual interest
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This is a rating of your use of credit based on: payment history, amount owed, new credit, and types of credit. Scores affect the terms of a loan and your interest rate.
Credit Rating
Credit Option
Credit Score
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A checking account can also be called what?
demand deposit
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