Banking - W!SE

The likely culprit of an investment, such as a savings account, losing value over time is

The Federal Reserve (the Fed) acts as the United States

Percentage of all deposits that banks are required to retain on hold.

Major economic event in 1929

The signature on the back of a check is called a(n)

Which type of savings plan does the interest rate vary from month to month?

Bartering and trading turned into

A cashier's check is funded by money

The Federal Reserve is responsible for monitoring

Led to major stock market losses in 2001

The process of matching your checkbook register with the bank statement

Act that allows businesses to "scan" checks and accelerate check processing.

Money that is going to be left in a financial institution for months or years is called a(n)

The percentage of increase in the value of savings from earned interest

When you are able to earn interest on previously earned interest it is called

Companies that "lease" products, such as appliances, to consumers on weekly or monthly basis.

ATM stands for

Businesses that make loans based on the value of assets pledged as collateral are called

Using a debit card to pay for a meal at a restaurant is called a

All of the following are commercial banks EXCEPT

Insures deposits at commercial banks

A money order is similar to a

The rate of return on an investment would be greatest when the interest is compounded

What major event has had a great impact on economic activity in the U.S. in the 20th century?

Banks offer all of the following services EXCEPT

Which of the following is best to use when saving money over a period of years?

The FDIC insures commercial bank accounts up to

An automatic loan made to an account to cover incoming transactions when it is short of funds

If interest is compounded quarterly, interest will be calculated every

An automatic deposit of an employee's pay directly into an account is called