An organization that provides services related to money
a)
commercial bank
b)
charter
c)
financial institution
2.
Examples of these types of banks are Wells Fargo, Chase, and Regions
a)
commercial banks
b)
credit unions
c)
charters
3.
A non profit financial cooperative owned by and operated for the benefit of its members; services offered only to its members
a)
credit union
b)
commercial bank
c)
savings and loans associations
4.
A service offered by most banks and credit unions that requires a Personal Identification Number (PIN) to check account balances, make cash withdrawals and deposits, and move money from one account to another.
a)
electronic funds tranfer
b)
electronic financial transitioning
c)
automated teller machine
5.
Also called a check card, allows you to make purchases by swiping your card through a point of sale(POS) terminal that is usually located at the merchant’s checkout counter
a)
debit card
b)
credit card
c)
ATM card
6.
Choose two answers.
Jeff wants to open a basic savings account. He should go to which two types of financial institutions to open the account.
a)
a financial services company
b)
a commercial bank
c)
an insurance company
d)
a trust company
e)
a credit union
7.
Which financial institution is owned by its members?
a)
financial service company
b)
savings and loan association
c)
commercial bank
d)
credit union
8.
Which financial institutions provides home mortgages?
a)
financial service company
b)
savings and loan association
c)
commercial bank
d)
credit union
9.
Which financial institutions offers checking accounts?
a)
financial service company
b)
savings and loan association
c)
commercial bank
d)
credit union
10.
Which two features does a basic savings account have?
a)
allows money
transfers
b)
offers a higher
interest rate
c)
allows ATM
withdrawals
d)
has a maturity date
11.
Money added to a checking account is called a
a)
withdrawal
b)
deposit
c)
endorsement
d)
drawee
12.
To take money OUT of your account, is called:
a)
WITHDRAWAL
b)
DEPOSIT
c)
TRUST
d)
STEAL
13.
This account allows you to deposit money at a bank for safekeeping.
a)
Saving Account
b)
Checking Account
c)
Bill Account
d)
Casino Account
14.
This account allows you to withdraw money, pay a bill, or make purchases easily.
a)
Checking Account
b)
Savings Account
c)
Market Money Account
d)
CD Account
15.
This is a written request to your bank to take money from your account & pay it to someone else.
a)
Check
b)
Telephone Call
c)
Text
d)
Email
16.
This allows you to withdraw cash from your account or make payments electronically.
a)
Debit Card
b)
Loan Account
c)
Signature Card
d)
Payday card
17.
The action enters money into an account.
a)
Deposit
b)
Withdrawal
c)
Loan
d)
Deduction
18.
This action removes money from an account, either at the bank or an ATM.
a)
Withdrawal
b)
Deposit
c)
Loan
d)
Credit
19.
This transaction removes funds from your account.
a)
Debit
b)
Credit
c)
Loan
d)
Deposit
20.
This action allows movement of funds from one account to another.