Bank and Credit Review

Front

What are the two types of bank accounts that you can have?

Back

Checking and Savings

Front

What is an income?

Back

Money you make

Front

What are the two laws that help you compare the cost of credit?

Back

Truth in Lending and Consumer Leasing

Front

What is promising to pay in the future for something you receive in the present?

Back

Credit

Front

What is property or money offered to support a loan, and it is subject to seizure if you default?

Back

Collateral

Front

An account in which money is kept in a bank or credit union for safekeeping. Money can be easily withdrawn by writing checks or using an ATM or debit card.

Back

Checking Account

Front

A interest-bearing deposit account held at a bank or other financial institution

Back

Savings account

Front

A person wrote a check for $800 but only had a balance of $700 in their checking account. The most likely reason the check did not bounce is because he/she has:

Back

Overdraft Protection

Front

An amount removed from your bank account to pay for something.

Back

Debit

Front

Money taken out of your checking account.

Back

withdrawal