Vocab
Banks
Checking
FDIC
Miscellaneous
100
what is a purchase of a good or service of a retail store or elsewhere
Point of sale
100
True or False: A deposit is where you put money into the bank
True
100
What kind of account has regulations
What is activity accounts
100
what year was FDIC created in
1934
100
Name some ways of borrowing as in financial services
Credit cards, personal loans, and overdraft protection
200
What is a mobile swipe stick
Electronic cash
200
True or False: You should always sign a deposit slip before you get to the bank so you don't forget to sign it
False, if you sign it before you get to the bank and you lose it someone else could deposit it
200
True or False: you can receive text alerts from your bank from making deposits or withdrawals or when you overdraft your account
True
200
What does FDIC stand for
Federal Deposit Insurance Company
200
Name a non-deposit institutions
Life Insurance companies, Investment companies, finance companies, mortgage companies
300
What do you call money that is going to be left in account for months or years
Timed deposits
300
Does credit or debit go through the bank
Debit
300
Where can you find restrictions, fees and charges, interest, and special services
What is terns and conditions
300
What major event was going on when the FDIC was created
The Great Depression
300
what are credit cards, cash, debit cards and ATM cards
What is daily cash needs
400
What do you call money you deposit in a checking account
What is Demand deposit
400
What is the average overdraft fee charged by a bank
40 dollars
400
Overdraft protection, text alerts, online banking, online bill pay are called what
What is Special services
400
True or false: FDIC insures unprotected deposits
False
400
If you have a 300,000 dollar deposit in your bank and you lose should you be mad that the FDIC didn't protect it
No because the FDIC only insures deposits up to 250,000
500
What do you call when a bank gives you money to avoid spending more money in your account than you have to avoid overdraft
Overdraft protection
500
Describe what an APR is and what and APY is
APR is interest and APY is the money you are earning from the bank
500
What kind of account has minimum relationship with the bank
What is Interest earning checking accounts
500
What was the FDIC created for
To maintain stability and public confidence in U.S. financial systems and insures deposits up to 250,000 dollars
500
Where are the following found: fees on deposit accounts, interest rates, APY, and terms and conditions of savings plans
What is the Truth in savings
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