5.1

Question 1

Bounced check

Answer 1

A check that is not honored by bank and is returned to the payee’s bank due to non-sufficient funds

Question 2

Cashier’s check

Answer 2

A check issued against the bank’s funds

Question 3

Certificate of deposit

Answer 3

A time deposit that pays a fixed rate of interest for a specified length of time

Question 4

Check

Answer 4

A written order to a bank to pay a stated amount to a person or business

Question 5

Checkbook register

Answer 5

A tool used to track checking account transactions

Question 6

Checking account

Answer 6

A demand deposit in a bank on which checks are drawn

Question 7

Debit card

Answer 7

A card used to with draw or deduct money from your checking account

Question 8

Deposit

Answer 8

Money added to a checking or savings account

Question 9

Endorsement

Answer 9

A signature, with or without instructions, written on the back of a check

Question 10

Floating a check

Answer 10

Writing a check and planning to make a deposit later to cover it before the check is processed

Question 11

Inactive account

Answer 11

A checking or savings account that does not meet minimum usage requirements

Question 12

Internet banking

Answer 12

Accessing and managing your account online

Question 13

Money market account

Answer 13

A type of savings account that earns the market rate of interest on the money deposited

Question 14

Money order

Answer 14

A type of check used to pay bills or make payments for which the money is guaranteed

Question 15

Post dated check

Answer 15

A check written with a date that will occur in the future

Question 16

Principal

Answer 16

Sum of money set aside on which interest is paid

Question 17

Rule of 72

Answer 17

A quick formula for computing how long it will take to double money invested in a given interest-rate

Question 18

Savings account

Answer 18

A demand deposit account designed for the accumulation of money in a safe place for future use

Question 19

Simple interest

Answer 19

Interest computed on principle once during a certain time period

Question 20

Smart card

Answer 20

A card that contains a computer chip that stores electronic money

Question 21

Stop payment

Answer 21

An instruction to the bank not to honor a check that has been issued or lost

Question 22

U. S. Savings bond

Answer 22

A discount bond issued by the federal government that pays a guaranteed minimum rate of interest

Question 23

Withdrawal

Answer 23

Taking money from your account

Question 24

Annuity

Answer 24

A fixed amount set aside on a regular basis over time; a contract purchased from an insurance company that guarantees a series of regular monthly payments for a set time