Quiz about BizTown- Lesson 1 Financial Institutions Vocab

Question 1

A machine that allows bank customers to deposit or withdraw money without visiting their bank.

Accepted Answer

ATM (automated teller machine)

Answer

Safety deposit box

Answer

Credit card machine

Answer

Credit Union

Question 2

The current amount of money in an account.

Accepted Answer

balance

Answer

profit

Answer

income

Answer

interest

Question 3

A business that offers money-related services to its customers, including loans and checking and savings accounts.

Accepted Answer

Bank

Answer

Wawa

Answer

Franklin Mint

Answer

Financial Advisor

Question 4

A company that sells goods or services.

Accepted Answer

Business

Answer

Bank

Answer

Credit Union

Answer

Economy

Question 5

An investment that earns interest over a specific period of time.

Accepted Answer

Certificate of deposit (CD)

Answer

ATM

Answer

interest

Answer

pay check

Question 6

A written order to a bank to pay a a certain amount of money from a checking account to another person or business.

Accepted Answer

Check

Answer

A Memo

Answer

credit card

Answer

A letter

Question 7

A bank account used to pay bills and access funds using checks and debit cards

Accepted Answer

checking account

Answer

check

Answer

savings account

Answer

transaction

Question 8

A card that allows the holder to buy goods and services by taking out a bank loan.

Accepted Answer

credit card

Answer

debit card

Answer

ATM

Answer

Certificate of deposit

Question 9

A financial institution owned by its members that provides many of the same services as a bank.

Accepted Answer

Credit Union

Answer

Bank

Answer

ATM

Answer

Franklin Mint

Question 10

A card that allows customers to electronically and immediately withdraw funds from their accounts, either in cash or to purchase goods or services.

Accepted Answer

Debit Card

Answer

Green Card

Answer

Credit Card

Answer

Check

Question 11

A system that guides how money is earned and used in a society.

Accepted Answer

Economy

Answer

Bank

Answer

Transaction

Answer

City Hall

Question 12

Payments made online or using an app that allow the user to automatically debit a bank account of charge a credit card without having to use those cards. E-commerce payments methods frequently make use of electronic payment platforms and services.

Accepted Answer

Electronic payments

Answer

Loan

Answer

Debits

Answer

Safe deposit box

Question 13

A business that provides money-related services.

Accepted Answer

Financial Institution

Answer

ATM

Answer

Business

Answer

Credit Card

Question 14

Money borrowed that must be repaid, usually with interest.

Accepted Answer

Loan

Answer

Credit

Answer

ATM

Answer

Balance

Question 15

A service that allows customers to perform banking activities using the internet.

Accepted Answer

Online banking

Answer

ATM

Answer

Wawa

Answer

Transaction

Question 16

A bank safe where documents, jewelry, or other valuables are kept.

Accepted Answer

Safe deposit box

Answer

Certificate of Deposit (CD)

Answer

Transaction

Answer

Credit Card

Question 17

An account that usually earns interest and is often used to hold money that is not needed right away.

Accepted Answer

Savings Account

Answer

Checking Account

Answer

Loan

Answer

Check

Question 18

A business agreement or exchange.

Accepted Answer

Transaction

Answer

Balannce

Answer

Debit/Credit

Answer

Loan

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