Financial Products Flashcards
Commodities that relates to monetary resources
Financial products
Setting aside a certain amount of money
Savings
Used to deposit or withdraw
Savings account
Given by the bank to the depositor in a form of a checkbook
Checking account
Certificate of deposit saving
Time deposit
Savings intended for retirement
Pension plan
Finance method of getting money
Credit
Long-term credit for commercials
Investment
Short term credit used by small businesses
Commercial
Purchase commodities and services needs and wants
Consumer
Most commonly used card
This card is authorizing a purchase of a good or service
Credit card
Stipulates the amount if loan, interest rate, period of payment
Written contract between creditor and borrower
A book containing accounts to which credits and debits are recorded
Ledger
Making settlement for loan or credit
Payment
Guarantee protection between parties for specified amount
Insurance
The method of transmitting a sum if money
Remittance
Placing money with the expectation of getting financial return
Investment
