
Financial Institutions
Authored by Alicia Bird
Education
9th - 12th Grade
Used 1+ times

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7 questions
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1.
MATCH QUESTION
1 min • 1 pt
Instructions: match each term to its definition.
Deposit
Moving money from one bank account to another using the internet.
Transfer
Is a document that instructs a financial institution to pay a specific amount of money from a person’s account to the person in whose name the document has been issued.
Pre-Authorized Payment
Putting money into your bank account using an ATM (automated teller machine)
Cheque
A money transfer scheduled on a predetermined date to pay a recurring bill. The money is transferred from the individual’s bank account to the person or organization they owe money too (e.g. money is transferred from an individual’s bank account to a phone company to pay a phone bill).
2.
MATCH QUESTION
1 min • 1 pt
Instructions: match each term to its definition.
Debit Purchase
Taking money out of your bank account using an ATM (automated teller machine)
Mobile cheque deposit
A money transfer scheduled on a predetermined date to pay a recurring bill
Pre Authorized Payment
Using a debit card (also called a bank card) to make a purchase at a store. Your card is swiped or tapped against a machine and money is automatically transferred.
Withdrawl
Depositing a cheque into your bank account using a smartphone or other mobile device. You take a picture of the cheque from your bank’s financial app, the financial institution will scan the cheque for authenticity and deposit the amount in your bank account.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is not an example of a financial institution?
Chartered Banks
Trust Companies
Credit Unions
Trust Banks
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Are regulated by the Bank Act of Canada.
Trust Companies
Chartered Banks
Credit Companies
Investment Companies
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Offer services similar to banks especially mortgages.
Mutual Funds
Credit Unions
Chartered Banks
Trust Companies
6.
FILL IN THE BLANK QUESTION
1 min • 1 pt
What are savings and credit groups that were originally begun by groups of people with common interest?
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Offer limited services where clients may invest in a money market fund (stocks).
Chartered Banks
Trust Companies
Investment Companies
Credit Unions
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