Financial Lit Vocab
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 | -the electronic transfer directly from the payer to the recipient's account.
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| Automated Teller Machine | -a machine that dispenses cash when an account holder inserts a bank card.
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| Debit Card | -a card issued by a bank allowing the owner of the card to transfer money electronically to another bank account.
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| Point of Sale Transaction | -a purchase by a debit card of a good service at a retail store or a restaurant.
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| Commercial Bank | -a for-profit institution that offers a range of financial services.
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| Savings and Loan Association | -a financial institution that traditionally specialized in savings accounts and mortgage loans.
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| Credit Union | -a non profit financial institution that it owned by its members and organized to their benefit.
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| Certificate of Deposit | -a savings alternative in which money is left on deposit for a stated period of time to earn a specific rate of return.
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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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| Rate of Return | -the percentage of 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 any previously earned interest.
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| Annual Percentage Yield (APY) | -the amount of interest that a $100 deposit would earn for one year.
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| Overdraft Protection | -an automatic loan made to an account if the balance will not cover checks written.
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| Stop-payment Order | -a request that a bank not cash a particular check.
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| Endorsement | -the signature of the payee, the party to whom the check has been written to.
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| Bank Reconciliation | -a report that accounts for the differences between the bank statement and a checkbook balance.
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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:
k.schischkin.
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