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of 15 available terms

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5 Written Questions

5 Multiple Choice Questions

  1. an amount set aside by a bank for preferred customers that is available on demand. For example, a bank can issue a customer a $15,000 line of credit that can be used at any time for any purpose
  2. a situation where money is transferred from one bank account to another to move money around
  3. a deed to give the lender the property if the loan is not paid back
  4. something to place valuables in at the bank
  5. goods and services are indirectly exchanged for money, which then can be exchanged for other goods and services

5 True/False Questions

  1. Bank Accounta record of how much money a customer has put in or taken out of a bank


  2. Depositthe money put into the bank


  3. Financial Institutiona loan made to an individual to pay for personal items like a car, home repairs, or a vacation


  4. Individual Loana loan made to businesses to buy supplies and equipment


  5. Interestthe money put into the bank


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