Argylls Ch. 12
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Standard of value and a means of exchange or payment. | Money
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| modern society uses coins, currency, checks, and debit cards as part of | monetary system
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| firm that manages money | financial institution
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| record of amount of money a customer has deposited into or withdrawn from bank | bank account
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| the money put into a bank account | deposit
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| the money taken out of a bank account | withdrawal
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| the rate the bank pays customers for keeping their money | interest
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| allows money to be transferred to one bank account to another through network of computers | Electronic funds transfer (EFT)
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| the electronic transfer of a payment directly from payer's bank account to party being paid | direct deposit
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| property or goods pledged by a borrower to use as security against a loan if it is not repaid | Collateral
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| agreement in which a borrower gives a lender the right to take the property if not paid | mortgage
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| secure box in a banks vault used for the safe storage of a customers valuables | safe-deposit box
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| offers the entire range of banking services | Commercial banks
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| financial institutions that hold customers' funds in interest-bearing account and invest in mortgage loans | savings and loan associations
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| not-for-profit banks set up by organization for employees use | credit unions
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| provides loans specifically for buying homes or business | mortgage companies
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| offer short term loans to business or consumer, but at higher rates | finance companies
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| provides protection against loans to business and consumers | insurance companies
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| sell stocks and bonds | brokerage firms
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| the central bank of the united states | federal reserve system (federal reserve
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| funds set aside for emergencies | reserves
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| loan used to buy real estate such as house or office building | mortgage loan
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| loan made to businesses to buy supplies and equipment | commercial loan
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| loan made to an individual to pay for personal items | individual loan
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| Credit arrangement in which a financial institution agrees to lend specific amount of money | line of credit
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
collenmetzger
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