Definition of Banking

Understanding Banking Basics

Flashcard
•
Financial Education
•
10th Grade
•
Hard
Jacqueline Barbour
FREE Resource
Student preview

10 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Back
A financial institution that manages money, provides loans, and offers financial services.
2.
FLASHCARD QUESTION
Front
Types of Banks
Back
Commercial, Investment, Central, Cooperative
3.
FLASHCARD QUESTION
Front
Central Bank Role
Back
Regulates money supply, controls interest rates, oversees banking system
4.
FLASHCARD QUESTION
Front
Interest Rate
Back
Percentage charged on loans or paid on deposits.
5.
FLASHCARD QUESTION
Front
Savings Account
Back
A deposit account earning interest with limited transactions.
6.
FLASHCARD QUESTION
Front
Checking Account
Back
A deposit account for daily transactions, offering no interest.
7.
FLASHCARD QUESTION
Front
Loan
Back
Borrowed money to be repaid with interest.
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