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Savings and Investing
Savings
Checking
Investing
100
Putting money in an account that accumulates interest
What is savings
100
A CD stands for this
What is a certificate of deposit
100
An accounting process used to compare two sets of records to ensure the figures are in agreement and are accurate.
What is reconciliation
100
A form of lending to a company or the government
What are bonds
200
Expending money in order to earn back more money
What is investing
200
Through ATM, online banking, and in person at the bank
How do you access the account?
200
A card issued by the bank to electrically transfer funds
What is a debit card
200
A share of ownership in a company
What is a stock
300
The chance that the investment will lose some or all of its value
What is risk
300
Passbook Account, Statement Account, Interest - Earning Checking Account
What are the three types of savings accounts
300
This is the most liquid and lowest interest account
What is a checking account
300
Created when a company combines the funds of many different investors and then invests that money in a diversified portfolio of stocks and bonds
What is a mutual fund
400
This type of account is offered by all financial institutions
What is a savings account
400
These give direction for making plans and taking action
What are goals
400
Used to transfer funds
What is a checking account
400
Reduces risk, saves investors time, fees can be high
What are the characteristics of a mutual fund
500
The amount of interest is .06% on this type of account
What is savings account
500
Emergency fund, easily save for the big ticket items, offers more options like online banking, can be linked together
What is a savings account
500
Which two accounts are accessible at every depository institution
What is checking and savings accounts
500
Reducing non-systematic risk by investing in a variety of assets
What is diversification