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PF OBJ 2.01 Vocab

Total questions: 13

Worksheet time: 7mins

Name
Class
Date
1.

Automated teller machine (ATM)

a)

An account that allows quick access to funds for transactions

b)

Businesses that provide financial services

c)

The percentage rate used to calculate interest

d)

A machine that allows individuals to complete certain transactions from the machine without human assistance

2.

Checking account

a)

An account that allows quick access to funds for transactions

b)

For‐profit depository businesses that offer financial services to both consumers and other businesses

c)

Businesses that provide financial services

d)

Accounts offered by depository institutions whose main purpose is to help people manage their money

3.

Commercial bank

a)

For‐profit depository businesses that offer financial services to both consumers and other businesses

b)

Depository institutions that offer many banking services and are owned by their customers

c)

Apps that many depository institutions have developed that allow online banking access from devices such as smartphones, tablets and other mobile devices

d)

A plastic card that is electronically connected to the cardholder’s depository institution account

4.

Contactless payment

a)

Payment transactions that can be completed with no physical connection between the payment device and the physical point of sale (POS) terminal or store clerk (Apple Pay/Cash App)

b)

A plastic card that is electronically connected to the cardholder’s depository institution account

c)

The percentage rate used to calculate interest

d)

Accounts offered by depository institutions whose main purpose is to help people manage their money

5.

Credit Union

a)

Depository institutions that offer many banking services and are owned by their customers

b)

The price paid for using someone else’s money

c)

For‐profit depository businesses that offer financial services to both consumers and other businesses

d)

A machine that allows individuals to complete certain transactions from the machine without human assistance

6.

Debit card

a)

Depository institutions that offer many banking services and are owned by their customers

b)

A plastic card that is electronically connected to the cardholder’s depository institution account

c)

The percentage rate used to calculate interest

d)

Accounts offered by depository institutions whose main purpose is to help people manage their money

7.

Depository institution

a)

Businesses that provide financial services

b)

An account at a depository institution that is designed to hold money not spent on current consumption

c)

A debt or obligation owed to others

d)

Money received

8.

Interest

a)

The price paid for using someone else’s money

b)

The percentage rate used to calculate interest

c)

Money spent

d)

A measurement of how much a person or household owns once all debts have been paid

9.

Interest rate

a)

The percentage rate used to calculate interest

b)

Apps that many depository institutions have developed that allow online banking access from devices such as smartphones, tablets and other mobile devices

c)

An account at a depository institution that is designed to hold money not spent on current consumption

d)

Accounts offered by depository institutions whose main purpose is to help people manage their money

10.

Mobile banking

a)

Apps that many depository institutions have developed that allow online banking access from devices such as smartphones, tablets and other mobile devices

b)

Payment transactions that can be completed with no physical connection between the payment device and the physical point of sale (POS) terminal or store clerk

c)

An account that allows quick access to funds for transactions

d)

A machine that allows individuals to complete certain transactions from the machine without human assistance

11.

Online banking

a)

Allows customers to complete certain transactions from a secured Internet site by using a username and password from any place in the world with Internet access

b)

Apps that many depository institutions have developed that allow online banking access from devices such as smartphones, tablets and other mobile devices

c)

Accounts offered by depository institutions whose main purpose is to help people manage their money

d)

The percentage rate used to calculate interest

12.

Savings account

a)

An account at a depository institution that is designed to hold money not spent on current consumption

b)

A plastic card that is electronically connected to the cardholder’s depository institution account

c)

A debt or obligation owed to other

d)

Personal property that was purchased to create a lifestyle or improve your life

13.

Savings tool

a)

Accounts offered by depository institutions whose main purpose is to help people manage their money

b)

Allows customers to complete certain transactions from a secured Internet site by using a username and password from any place in the world with Internet access

c)

Depository institutions that offer many banking services and are owned by their customers

d)

For‐profit depository businesses that offer financial services to both consumers and other businesses