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CIV M8L2 Key Terms
Civics Module 8 Lesson 2 Key Terms
| Term | Definition |
|---|---|
| Bank Account | An arrangement with a financial institution that allows you to deposit and withdraw money. |
| Interest | Money that is earned on deposits in a bank account or paid on money owed. |
| Checking Account | Bank account that allows paper checks or debit cards to be used to withdraw money from the account. |
| Savings Account | There are several types of these. All earn interest on the money deposited into the account. |
| Money Market Account | Similar to a checking account, money can be deposited and withdrawn monthly. However, there is a limit to the number of transactions that can occur without penalty and a minimum balance must be maintained. |
| Certificate of Depost | A savings account that has a certain time given to it. Money deposited earns higher interest but money cannot be withdrawn until the certificate time has elapsed. |
| Bonds | A certificate of debt issued by governments and corporations to people who lend them money. |
| Mutual Fund | Reduces the risk of investing in the stock market by combining investors' money to buy a small part of a large number of stocks. |
| Stock | Shares of ownership in a company; value increases as the value of the company increases and decreases as the value of the company decreases. |
| Federal Deposit Insurance Corporation | A federal agency that insures bank accounts up to $250,000. |
| Securities and Exchange Commission | Monitors our stock market and the brokers who buy and sell stock. |
Created by:
dmcsorley13
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