Checking - Vocab Quiz
star
star
star
star
star
Last updated about 4 years ago
10 questions
Note from the author:
Match the definition with the vocab term it describes.
Match the definition with the vocab term it describes.
1
Secured container held in a bank vault, used by a customer to keep important or valuable items safe
Secured container held in a bank vault, used by a customer to keep important or valuable items safe
1
Fee charged for the opportunity to borrow money
Fee charged for the opportunity to borrow money
1
Legal document giving one person the power to act for another
Legal document giving one person the power to act for another
1
Financial institution licensed to receive deposits and make loans
Financial institution licensed to receive deposits and make loans
1
Written, dated, signed instrument that directs a bank to pay a specific sum to the bearer
Written, dated, signed instrument that directs a bank to pay a specific sum to the bearer
1
Electronic transfer of payment directly to a recipient’s account
Electronic transfer of payment directly to a recipient’s account
1
Computerized electronic banking machine that performs basic banking functions
Computerized electronic banking machine that performs basic banking functions
1
Check that has been paid by the bank it was drawn on after it has been deposited or cashed
Check that has been paid by the bank it was drawn on after it has been deposited or cashed
1
Deficit in a bank account caused by drawing more money than the account holds
Deficit in a bank account caused by drawing more money than the account holds
1
Federal agency that insures deposits in US banks in the event of bank failure
Federal agency that insures deposits in US banks in the event of bank failure