Banks

Question 0

A record in which you keep track of checks written am deposits made

Answer 0

Checkbook register

Question 1

A bank card that can be used to make purchases or withdrawal money at an ATM

Answer 1

Debit card

Question 2

The rate banks charge to their most creditworthy business customers

Answer 2

Prime rate

Question 3

A banks service that directs the bank not to honor a check that you have written

Answer 3

Stop payment

Question 4

Interest earned both principal and interest that was previously earned

Answer 4

Compound payment

Question 5

Money electronically added to your checking or other account

Answer 5

Automatic deposit

Question 6

A check used to pay bills whereby money I guaranteed

Answer 6

Money order

Question 7

A check issued by a bank against bank funds

Answer 7

Cashiers check

Question 8

A math formula that tells you how long it will take money earning interest at a certain rate to double

Answer 8

Rule of 72

Question 9

The rte banks are charged to borrow money from the fed

Answer 9

Discount rate

Question 10

A discount savings bond issues by the US government

Answer 10

US savings bond

Question 11

A savings option that pays the current market rate of interest

Answer 11

Money market account

Question 12

A one deposit for a fixed amount of time at a set interest rate

Answer 12

Certificate of deposit

Question 13

The rate at which banks can borrow money from the excess reserve of other banks

Answer 13

Federal funds rate

Question 14

Money added to a checking, a savings, or another account

Answer 14

Deposit

Question 15

A check returned by the bank for non-sufficient funds

Answer 15

Bounced check

Question 16

Actions of the fed to influence money and credit conditions in the economy

Answer 16

Monetary policy

Question 17

A demand deposit from which you can get your money quickly and easily

Answer 17

Checking account

Question 18

A demand deposit that may have restrictions on how quickly or easily you can get your money

Answer 18

Savings account

Question 19

A check written with a date in the future

Answer 19

Postdated check

Question 20

A written order to a bank to pay the stated amount to the person or business named from a certain account

Answer 20

Check

Question 21

A sum of money set aside on which interest is paid

Answer 21

Principal

Question 22

Money electronically deducted from your checking or other account

Answer 22

Automotive withdrawal

Question 23

A signature on the back of a check authorizing a bank to cash or deposit the check

Answer 23

Endorsement

Question 24

Intermediates that help channel funds from servers to borrowers

Answer 24

Financial institutions

Question 25

Use anywhere depot cards are accepted ?

Use only at ATMS

Answer 25

• debit card

- ATM card

Question 26

To open a checking account you must …

Answer 26

• money
• address
• ID
• social security number

Question 27

Add interest onto principal

Answer 27

Compound

Question 28

72 divided by interest rate

Answer 28

Rule 72