Topic 3: Payment Methods Key Terms

Topic 3: Payment Methods Key Terms

10th - 12th Grade

10 Qs

quiz-placeholder

Similar activities

Credit Card Q's

Credit Card Q's

12th Grade

14 Qs

Business Services

Business Services

11th Grade - University

12 Qs

e-commerce

e-commerce

11th Grade

14 Qs

Borrowing products

Borrowing products

10th - 12th Grade

10 Qs

Types of Credit Review

Types of Credit Review

9th - 12th Grade

15 Qs

Busi

Busi

11th Grade - University

12 Qs

Marketing Quiz

Marketing Quiz

12th Grade - University

7 Qs

Commercial Banks

Commercial Banks

9th - 11th Grade

15 Qs

Topic 3: Payment Methods Key Terms

Topic 3: Payment Methods Key Terms

Assessment

Quiz

Business

10th - 12th Grade

Easy

Created by

David Burger

Used 1+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Automated teller machine, also known as a cash machine

ATM

Traveller's Cheque

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A pre-printed cheque for a set amount of currency, eg 50 or 100 US

dollars or euros. A traveller’s cheque can be exchanged for local

currency or used to make payments while abroad

Traveler's cheque

Bacs

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A service offered by some retailers when customers pay by card. The

retailer gives the customer cash and debits the amount of cash

handed over from the customer’s payment card

Cashback

Banker's draft

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A banker’s draft is similar to a cheque but the payment is signed and

guaranteed by the financial services provider that issues it, rather

than by an individual. Banker’s drafts are used for paying large sums

of money but are falling out of fashion for being old fashioned and

not particularly secure.

Banker’s draft

Debit card

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A card used to withdraw cash from ATMs or branch counters

Cash card

Cheque

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A written instruction to the provider (eg the bank or building society)

to pay a specified amount to a specified person or organisation. (The

law relating to cheques is quite complex so this is a simplified

explanation for the purpose of these study materials)

Direct debit

Cheque

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An electronic payment out of an account. The amount and frequency

of a direct debit payment can vary

Direct debit

Credit card

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?