PBMF- Chapter 15 Review

Anything of value that is accepted in return for good or services is ____.

• products

• credit

• money

• cash

A ____ is type of financial investment issued by a corporation, government, or other organization

• loan

• security

• banknote

• financial exchange

As a function of money, ____ means that money is a common measure of the worth or price of a good or service

• banknote

• store of value

• monetary system

• unit of value

As a property of money, ____ means that money must maintain its value over time in order to be widely accepted

• stable

• portable

• durable

• recognized

The process of transferring money from one individual or organization to another is ____.

• monetary policy

• medium of exchange

• financial exchange

• financial services

Any organization that provides services related to money is a ____.

• corporation

• business

• store

• financial institution

A nonprofit financial institution that is privately owned and provides banking services for its members is called a ____.

• trust department

• credit union

• insurance agency

• bank

A(n) ____ is an example of a nondepository financial institution.

• credit union

• mutual savings bank

• insurance company

• commercial bank

The mechanism a nation uses to provide and manage money for itself is called a(n) ____.

• banking system

• monetary system

• financial system

• inventory system

A prearranged amount of credit that is available for a business to use as needed is a ____.

• line of credit

• treasury note

• letter of credit

• bond