WorksheetsFinancial Literacy Exchange Definitions Quiz
Total questions: 10
Worksheet time: 50mins
What Is Cash?
Legally endorsed coins and paper currency that can be used to purchase goods and services, and to pay debts.
A form of payment that is dated and signed by the payor, directing the payor's bank to pay a specific amount of money to the person the check is written, that is, to the payee.
A contractual agreement whereby a customer receives goods or services now, and agrees to pay for them later.
A plastic card that is an electronic method of payment allowing the card owner to purchase goods and services on credit.
What Is A Check?
A form of payment that is dated and signed by the payor, directing the payor's bank to pay a specific amount of money to the person the check is written, that is, to the payee.
Legally endorsed coins and paper currency that can be used to purchase goods and services, and to pay debts.
A contractual agreement whereby a customer receives goods or services now, and agrees to pay for them later.
A plastic card that is an electronic method of payment allowing the card owner to purchase goods and services on credit.
What Is Credit?
A contractual agreement whereby a customer receives goods or services now, and agrees to pay for them later.
A form of payment that is dated and signed by the payor, directing the payor's bank to pay a specific amount of money to the person the check is written, that is, to the payee.
Legally endorsed coins and paper currency that can be used to purchase goods and services, and to pay debts.
A plastic card that is an electronic method of payment allowing the card owner to purchase goods and services on credit.
What Is A Credit Card?
A plastic card that is an electronic method of payment allowing the card owner to purchase goods and services on credit.
A contractual agreement whereby a customer receives goods or services now, and agrees to pay for them later.
A form of payment that is dated and signed by the payor, directing the payor's bank to pay a specific amount of money to the person the check is written, that is, to the payee.
Legally endorsed coins and paper currency that can be used to purchase goods and services, and to pay debts.
What Is A Debit Card?
A plastic card that is an electronic method of payment where the funds are deducted directly from the card owner's bank account.
An electronic transfer of funds from one bank account to another.
Ways of transferring money from one person or entity to another.
Someone who accepts a negotiable instrument in exchange for something of value.
What Is A Electronic Funds Transfer (¨EFT¨)?
An electronic transfer of funds from one bank account to another.
A plastic card is an electronic method of payment where the funds are deducted directly from the card owner's bank account.
Ways of transferring money from one person or entity to another.
Someone who accepts a negotiable instrument in exchange for something of value.
What are Financial Exchanges?
Ways of transferring money from one person or entity to another.
Someone who accepts a negotiable instrument in exchange for something of value.
An electronic transfer of funds from one bank account to another.
A plastic card is an electronic method of payment where the funds are deducted directly from the card owner's bank account.
What Is A Holder In Due Course?
Someone who accepts a negotiable instrument in exchange for something of value.
Ways of transferring money from one person or entity to another.
An electronic transfer of funds from one bank account to another.
A plastic card that is an electronic method of payment where the funds are deducted directly from the card owner's bank account.
What Is A Negotiable Instrument?
A document that promises a specific amount to be paid, like a check or money order.
A promise from the payor to pay a certain amount of money to the payee, either on demand or sometime in the future, also called an I.O.U.
Someone who accepts a negotiable instrument in exchange for something of value.
Ways of transferring money from one person or entity to another.
What Is A Promissory Note?
A promise from the payor to pay a certain amount of money to the payee, either on demand or sometime in the future, also called an I.O.U.
A document that promises a specific amount to be paid, like a check or money order.
Someone who accepts a negotiable instrument in exchange for something of value.
Ways of transferring money from one person or entity to another.
