
Cashless Society Study Guide
Authored by PHILIP JABOUR
Life Skills
11th Grade
Used 1+ times

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23 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Check
A Written and signed document that Contains an unconditional order from the drawer (person who wrote it) that directs a bank to pay a specific sum of money to a payee.
Consumers purchase these cards for a specific amount of money. The amount paid is stored in the card´s memory, and the card can be used to pay for goods or services at any store. Can be reloaded.
Linked to a checking account. Used to pay goods for goods and services at retailers and online.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Credit Card
Consumers purchase these cards for a specific amount of money. The amount paid is stored in the card´s memory, and the card can be used to pay for goods or services at any store. Can be reloaded.
Linked to a credit line used to pay for goods and services. Helps to establish credit.
Some retail chain stores sell crash cards which can be used to pay for their products.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Crash Card
Any transfers of funds, other than a transaction originated by check or other paper instrument initiated through an electronic terminal, telephone, or computer, to authorize a financial institution to debt or credit an account.
Consumers purchase these cards for a specific amount of money. The amount paid is stored in the card´s memory, and the card can be used to pay for goods or services at any store. Can be reloaded.
A Written and signed document that Contains an unconditional order from the drawer (person who wrote it) that directs a bank to pay a specific sum of money to a payee.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Store Cash cards/gift cards
Some retail chain stores sell crash cards which can be used to pay for their products.
Consumers purchase these cards for a specific amount of money. The amount paid is stored in the card´s memory, and the card can be used to pay for goods or services at any store. Can be reloaded.
Linked to a credit line used to pay for goods and services. Helps to establish credit.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Debit Card
Linked to a checking account. Used to pay goods for goods and services at retailers and online.
Some retail chain stores sell crash cards which can be used to pay for their products.
Linked to a credit line used to pay for goods and services. Helps to establish credit.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
EFT
Linked to a credit line used to pay for goods and services. Helps to establish credit.
Any transfers of funds, other than a transaction originated by check or other paper instrument initiated through an electronic terminal, telephone, or computer, to authorize a financial institution to debt or credit an account.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Contactless Payment
Any transfers of funds, other than a transaction originated by check or other paper instrument initiated through an electronic terminal, telephone, or computer, to authorize a financial institution to debt or credit an account.
Any transfers of funds, other than a transaction originated by check or other paper instrument initiated through an electronic terminal, telephone, or computer, to authorize a financial institution to debt or credit an account.
Transactions completed with no physical connection between the payment device and the Point of Sale (POS) device or store clerk.
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