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Debit & Credit Lessons 1-4

Total questions: 19

Worksheet time: 10mins

Name
Class
Date
1.

_____________ help people complete4 transactions with their money safely, quickly and conveniently.

a)

financial institutions

b)

credit unions

c)

banks

d)

internet bank

e)

mobile banking

2.

A not-for-profit cooperative that offers bank services and is owned by its members.

a)

financial institutions

b)

credit unions

c)

banks

d)

internet bank

e)

mobile banking

3.

A for-profit institution that offers personal loans, mortgages, and other services.

a)

online banking

b)

credit unions

c)

banks

d)

internet bank

e)

mobile banking

4.

A financial institution that is only on the web . . . it does not offer brick-and-mortar branches.

a)

online banking

b)

credit unions

c)

banks

d)

internet bank

e)

mobile banking

5.

A wireless service that allows financial transactions by using an app or Web browser from a mobile device.

a)

online banking

b)

interest

c)

cash

d)

internet bank

e)

mobile banking

6.

An electronic way to view account activity and pay bills via the internet and an institution's website.

a)

online banking

b)

interest

c)

cash

d)

internet bank

e)

mobile banking

7.

A card authorizing the holder to buy goods and services that can be paid for later.

a)

credit card

b)

interest

c)

cash

d)

credit

e)

debit

8.

A card authorizing the holder to buy goods and services as if they were paying cash. The money is immediately subtracted from the cardholder's bank account when a purchase is made.

a)

credit card

b)

interest

c)

debit card

d)

credit

e)

debit

9.

The amount of financial trust extended to a person or a business by a lender; a loan.

a)

credit card

b)

interest

c)

debit card

d)

credit

e)

debit

10.

An amount deducted from a bank account.

a)

credit card

b)

interest

c)

debit card

d)

credit

e)

debit

11.

A written order for a bank to pay money.

a)

cash

b)

interest

c)

check

d)

credit

e)

debit

12.

Money in the form of bills or coins.

a)

cash

b)

interest

c)

check

d)

credit

e)

debit

13.

A fee received or paid for the use of money.

a)

paypal

b)

interest

c)

check

d)

bankruptcy

e)

forclosure

14.

an online payment service that allows consumers to transfer money electronically

a)

paypal

b)

interest

c)

check

d)

bankruptcy

e)

forclosure

15.

a legal process that gives a debtor protection from creditors

a)

paypal

b)

interest

c)

check

d)

bankruptcy

e)

forclosure

16.

a legal process in which a lender takes possession of mortgaged property from a mortgage holder who failed to make payments

a)

paypal

b)

interest

c)

check

d)

bankruptcy

e)

forclosure

17.

A credit ___________ determines a consumers' creditworthiness.

a)

report

b)

score

18.

A credit ___________ is a standardized measurement of the potential to repay debt.

a)

report

b)

score

19.

What is found on the credit report? Check all that apply.

a)

previous addresses

b)

Social security number

c)

existing loans & credit accounts with amount wed and payment history

d)

estimated income

e)

previous and current employers