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Banking Vocabulary

Total questions: 11

Worksheet time: 6mins

Name
Class
Date
1.

A ____________ is a deposit account held at a financial institution that allows deposits and withdrawals

a)

savings account

b)

checking account

c)

retirement account

d)

loan account

2.

A ____________ is a bank account on which interest is paid, traditionally one for which a bankbook is used to record deposits, withdrawals, and interest payments.

a)

savings account

b)

checking account

c)

retirement account

d)

loan account

3.

_______________ let you easily access the money in your checking account to pay for everyday expenses.

a)

Bank cards

b)

Credit cards

c)

Check cards

d)

Gift cards

4.

An instance of buying or selling something; a business deal is called a(n) _________.

a)

purchase

b)

bill paying

c)

exchange

d)

transaction

5.

A small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit is called a(n)

a)

debit card

b)

ATM card

c)

credit card

d)

bank card

6.

If you use your credit card, and don't pay the full balance by the due date, the bank will charge you ____________.

a)

Interest and/or late fees

b)

call you to let you know

c)

deduct the amount from your checking account

d)

none of the above

7.

Your _______ number for your ATM card should always be kept secret for security reasons.

a)

passcode

b)

PIN or personal identification number

c)

security code

d)

account

8.

The ______________ is a person to whom money is paid or is to be paid, especially the person to whom a check is made payable.

a)

payer

b)

designee

c)

checker

d)

payee

9.

An example of a(n) ____________is when you sign the back of check, telling the bank that you give your approval for the check to be cashed.

a)

endorsement

b)

agreement

c)

transaction

d)

acceptance

10.

A _______________________is the process of matching the balances in a person's checking records for a cash account to the corresponding information on a bank statement.

a)

endorsement

b)

transaction balancing

c)

bank reconciliation

d)

check register

11.

A ______________ is a log that shows a record of transactions for an account.

a)

check register

b)

check log

c)

records register

d)

transactions book