NGPF Banking 1 Vocab Quiz Game

1. What is an ATM?

• Automatic Teller Machine

• Automated Transaction Machine

• 1. Automated Teller Mechanism

• Automatic Transaction Mechanism

1. What does 'balance' refer to in banking?

• The number of checks written

• The amount of money you have in your bank account

• The total number of transactions

• The interest earned on a deposit

1. What is a bank statement?

• A document showing your credit score

• 1. A monthly document showing all transactions related to your account

• A certificate of deposit details

• A check that has been canceled

1. What is a certificate of deposit?

• A credit card with a fixed limit

• A bank product earning interest on an untouched lump-sum deposit

• A loan taken out against savings

• 1. A type of checking account

1. What is a canceled check?

• A check that has been paid or cleared by the bank

• A check that was never deposited

• A voided check

• 1. A check used to open an account

1. What is a check?

• A receipt for a cash payment

• A written, dated, and signed order to the bank to pay a definite sum of money to a payee

• An account balance update

• 1. A check used to open an accountA list of all bank transactions

1. What is a checkbook?

• A portfolio holding your check register, checks, deposit slips, receipts, and ATM/debit card transaction records

• A book listing all bank branches

• 1. A collection of canceled checks

• 1. A guide to writing checks

1. What is a check cashing store?

• 1. A store that sells bank checks

• 1. A business that cashes checks and gives cash in exchange for a fee

• 1. A bank branch with extended hours

• 1. An online service for cashing checks

1. What is a check register?

• 1. A record that allows you to keep track of checks written, ATM/debit card transactions, and deposits/withdrawals

• 1. A list of canceled checks

• 1. A summary of monthly expenses

• 1. A credit card statement

1. What is compound interest?

• 1. Interest earned only on the initial deposit

• 1. Interest earned on both the initial amount and the accumulated interest

• 1. A fixed interest rate

• 1. An annual interest payment