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WorksheetsChapter 5: The Banking System
Total questions: 30
Worksheet time: 30mins
A demand deposit account on which checks are drawn.
checking account
savings account
bank account
debit card
A written order to a bank to pay a stated amount to a person.
deposit slip
debit card
check
withdrawal
A tool used to track checking account transactions.
bank reconciliation
checkbook register
debit card
check
Money added to a checking account.
deposit
check
ATM card
debit card
Taking money from your account.
deposit
endorsement
check register
withdrawal
A check written with a date that will occur in the future.
postdated check
checking account
check endorsement
paycheck
A card used to withdrawal or deduct money from your checking account.
check
credit card
debit card
check card
A signature written on the back of a check.
electronic deposit
deposit
check register
endorsement
The use of a computer-based system to move funds from the drawer's account to the payee's account.
bank reconciliation
electronic funds transfer
endorsement
ATM
The process of adjusting checkbook and bank balances so that they agree.
bank endorsement
check register
bank reconciliation
electronic funds transfer
A demand deposit account designed for the accumulation of money in a safe place for future use.
money market account
checking account
US savings bond
saving account
Sum of money set aside on which interest is paid.
principal
interest
savings
annuity
Interest computed on principal once during a certain time period.
interest
simple interest
compound interest
saving interest
Interest earned on both principal and previously earned interest.
interest
simple interest
compound interest
saving interest
A fixed amount set aside on a regular basis over time.
interest
annuity
principal
bond
A quick formula for computing how long it will take to double money invested.
Rule of 72
P R T
CD
future value
A saving account that earns the market rate of interest on the money deposited.
savings bond account
checking account
savings account
money market account
A time deposit that pays a fixed rate of interest for a specified length of time.
savings bond
certificate of deposit
savings account
money market account
A discount bond issued by the federal government.
discount bond
premium bond
US savings bond
corporate bond
A bond's future value as stated on its face.
maturity value
principal
interest
premium
A secure container located in a bank vault.
savings box
safe deposit box
money order
saving account
A bank service to temporarily cover a shortage in your account.
overdraft protection
bounced check
floating check
money order
An instruction to the bank to not honor a check.
stop payment
bounced check
cashier check
floating check
A check issued against the bank's funds.
money order
cashier check
bounced check
floating check
A type of check used to pay bills or make payments for which the money its guaranteed.
cashier check
floating check
bounced check
money order
Assessing and managing your account online.
save banking
overdraft banking
internet banking
inactive banking
A card that contains a computer chip that store electronic money.
discount card
smart card
value card
loyalty card
A check not honored by a bank and is returned to the payee's bank due to non-sufficient funds.
money order
cashier check
bounced check
floating check
A checking or savings account that does not meet minimum usage requirements.
checking account
internet account
saving account
inactive account
Writing a check and planning to make a deposit later to cover it before the check is processed.
bounced check
floating check
cashier check
money order
