Unit 5 Banking
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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| Direct Deposit | An automatic deposit of net pay to an employee's designated bank account.
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| ATM | A computer terminal that allows a withdrawal of cash from an account.
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| Debit Card | A cash card that allows you to withdraw money or pay for purchases from your checking or savings account.
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| Point-of-Sale Transaction | A purchase by debit card of a good or service at a retail store, a restaurant, or elsewhere
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| Commercial Bank | A for-profit institution that offers a full range of financial services, including checking, savings, and lending.
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| Savings and Loan | A financial institution that traditionally specialized in savings accounts and mortgage loans.
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| Credit Union | A nonprofit financial institution that is owned by its members and organized for their benefit.
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| Rate of Return | The percentage increase in the value of your savings from earned interest.
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| Compounding | The process in which interest is earned on both the principal and on previously earned interest.
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| Annual Percentage Yield | The amount of interest that a $100 deposit would earn, after compounding, for one year.
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| Overdraft Protection | An automatic loan made to an account if the balance will not cover check written.
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| Stop-payment order | A request that a bank or other financial institution not cash a particular check.
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| Endorsment | The signature of the payee, the party to whom the check was written to.
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| Bank reconcilation | A report that accounts for the differences between bank statement and a checkbook balance.
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| Certificate of Deposit | A savings alternative in which money is left on deposit for a stated time period to earn a specific rate.
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| Money Market Account | A savings account that requires a minimum balance and earns interest that varies from month to month.
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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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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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