Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Money and Banking 12
| Question | Answer |
|---|---|
| Standard of value and a means of exchange or payment. | Money |
| Modern society uses coins, currency, checks, and debit cards as part of it. | Monetary System |
| A firm that manages money. | Finacial institutions |
| A record of the amount of money of a customer has deposited into or withdrawn from a bank. | Bank account |
| The money put in a bank account. | Deposit |
| The money taken out. | Withdrawal |
| A rate that the bank pays customers for keeping their money. | Interest |
| Allows money to be transferred from one bank account to another through a network of computers. | Electronic funds transfer (EFT) |
| The electronic transfer of a payment directly from the payer's bank account to that of the party being paid. | Direct deposit |
| Property or goods pledged by a borrower to use as security against a loan if it is not repaid. | Collateral |
| An agreement in which a borrower gives a lender the right to take the property if the loan is not repaid. | Mortgage |
| A secure box in a banks vault used for the safe storage of a customers vaulables. | Safe-deposit box |
| Offer the entire range of banking services, such as checking and saving accounts, loans, and financial advice. | Commercial banks |
| Financial institutions that hold costumer's funds in interest-bearing accounts and invest mainly in mortgage loans. | Savings and loan associations |
| Not-for-profit banks set up by organizations for their employees to use. | Credit unions |
| Provide loans specifically for buying a home or business. | Mortgage companies |
| Offer short-term loans to businesses and consumers, but at much higher interest rates than bank charge. | Finance companies |
| Not only provide protection against problems such as fire and theft, but they also offer loans to businesses and consumers. | Insurance companies |
| Sells stocks and bonds may also offer a wide range of finacial services to their customers. | Brokerage firms |
| The central bank of the United States. | Federal Reserve System |
| Funds set aside for emergenics, such as a rush of withdrawals. | Reserves |
| Made to business to buy supplies and equipment. | Commercial loan |
| It hold its value over time and can be stored or saved. | Store of value |
| Anything that is generally accepted as a measure of value and of wealth. | Medium of exchange |
| To place or leave Money for preservation or later use. | Store money |
Created by:
badezimmer
Popular Finance sets