NEW
Font size
WorksheetsBanking Terms 2
Total questions: 18
Worksheet time: 11mins
Credit is a loan that allows you to:
Buy without having to pay
Buy now and pay later
Buy now and pay now
Save up your money securely
If you have Insufficient Funds, you:
Do not have enough money to cover all checks and/or electronic withdrawls
Have too much money in your account
Are under the minimum balance set by your bank
Are past your credit card limit
A money order is most commonly purchased from the US postal service. It is a:
What you write to promise to pay back your bank loan
A card linked to a bank account
Line of credit
Guaranteed check
The difference between a Credit Card and a Debit Card is that:
Your debit card is linked to a bank account
Your credit card is linked to a bank account
Your credit card is used as your own cash from the bank
Your debit card can be purchased from stores
Anna reconciles each month when she receives her bank statement. She does what:
Deposits her money into a bank account
Asks the bank for a loan
Makes her check register and her bank statement agree
Makes sure that she still has the minimum balance within her account
What kind of account is a Money Market Account?
Half debit half checking
All saving
Half checking half saving
Half debit half saving
Most money market accounts require a Minimum Balance. That means:
You have to spend a certain amount of money out of your account each month
Your bank raises your interest on your loans each month to a new percentage
The bank or other financial institution requires a certain amount of money in order for an account to be maintained
A person who keeps money in a bank account is a:
Depositor
Guarantee
Accountant
CPA
What are you doing when you sign the back of a check to make it valid?
Free checking
Reconciling with your bank
Endorsing the check
Redlining
Credit Unions are:
Protected by the FDIC
Not insured
Non-profit
Better than banks
What is it called when you put money into the bank?
Deposit
Withdraw
Overdraw
Balance
What is it called when you take money out of the bank?
Deposit
Overdraw
Endorsing
Withdraw
A Savings Account is:
A detailed report of an individual's credit history
An account used to deposit savings for the future
Where your credit card is linked
Where the bank gives you money
When you make a Direct Deposit, you are:
Taking money out of your checkings account
Automatically depositing a pay check into a bank account
Making a deposit for over 10,000 dollars
Taking money from the bank for bills
Your debit card:
Is linked to a bank account; Used as cash
Is given to you by a Credit Union
Has a credit limit
Allows for a Line of Credit to be opened
Illiquidity:
When an asset is easy to sell
When your bank extends a period of a loan
When a bank refuses a loan to someone
When an asset is difficult to sell because its expense or a lack of buyers
