money
a mortgage
what is a large loan that you take to pay for house?
a bank exams
what is financial advisors come in to review documents and bookkeeping?
fiat money
what are government made paper money that has legal tinder?
credit limit
what is the maximum amount you can charge on a credit card?
cashiers Check
what is a check that is accepted without question and assigned to the banker its named for?
three criteria's of money
what is medium of exchange, standard of value, store of value?
check clearing
what is moving funds from one account to another: quickly and efficiently?
demand deposits
what are deposits of money that can be withdrawn without prior notice?
annual percentage rate
what is the total percentage it costs you to use your credit?
security Deposit
what is money deposited to the landlord that ensures that rent will be paid and other responsibilities of the lease will be preformed?
a barter system
what is using goods instead of bills for purchases?
the FOMC
what is the federal open market committee with the federal reserve?
difference between commercial banks and credit unions
what is commercial banks are for profit and don't benefit as much from their customers?
credit score
what is a number assigned to a person that indicates to lenders their capacity to repay a loan?
overdraft fees
what is a fee charged when you spend more than what is in your account?
difference between M1 and M2 money supply
what is M1 is more assets and money compared to M2?
federal funds rates
what is interest rates that banks and credit unions have to pay when they are lending or loaning money?
FDIC
what is the federal deposit insurance corporation?
things to do to build a good credit history
what is maintaining a checking account, don't balance checks, or fall into debt?
president who signed the 1913 Federal Reserve Act
what is woodrow wilson?
7 characteristics of money
what is durability, portability, divisibility, uniformity, instability, scarcity, acceptability?
fed has to do this when inflation occurs in the economy
what is increasing interest rates so people are losing less money?
liquid assets
what are assets that can be turned into cash quickly?
bankruptcy
what is illegal process giving a person deeply in debt a plan to get out of debt?
leader of Federal Reserve System
who is jerome powell?