NEW
Font size
WorksheetsFP Obj 2.3 Retail/banking products & services
Total questions: 10
Worksheet time: 3mins
A guarantee that a check, ATM, wire transfer or debit card transaction will clear if the account balance falls below zero
lockbox
overdraft protection
A form of prepaid debit cards preloaded with funds for future use
credit cards
gift cards
POS stands for
Personal Of Standards
Point of Sale
Funds are electronically transferred from a customer or client’s bank account directly into your bank account through the Federal Reserve Bank’s Automated Clearing House (ACH) system.
Electronic check
Point of Sale
APY stands for
Annual Percentage Yesterday
Annual Percentage Yield
The federal government insures bank accounts against loss up to
10,000
250,000 per depositor
What does CD stand for?
Certified Deposit
Certificate of Deposit
NCUA is for
Banks
Credit Unions
Which depository institution is NOT for profit.
Credit unions
Banks
Is the electronic clearing and settlement system used for financial transactions by US commercial banks and other institutions
Asset Management
Automated Clearing House (ACH)
