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5 Written questions

5 Matching questions

  1. loan
  2. lending
  3. Delivery
  4. grace period
  5. ending cash
  1. a cash in teller's drawer at the end of the day
  2. b transfer of the possession of an item from one person to another
  3. c charging a fee for the use of money
  4. d stipulated time, following the date on which payment is due, during which no late fee is charged
  5. e business contract by which a borrower and lender enter into an agreement

5 Multiple choice questions

  1. the amount paid by a borrower to a lender in exchange for the use of the lender's money over a certain period
  2. funds that are available to the customer at any time and that require no advance notice of withdrawal, usually drawn against by writing checks
  3. to leave money or items with a bank for credit to a bank account
  4. involves the purchase of, or advance of, funds arising from installment sales for a customer selling aproduct or service
  5. a term used by a bank for a check drawn on the bank and presented to that bank for deposit or payment

5 True/False questions

  1. makerthe restriction of payment of part or all of the funds in an account


  2. on other checka bank's term for a check presented to it for deposit or payment but drawn on another bank


  3. installment loanthe percentage rate charged for the use of money, usually quoted on an annual basis


  4. megotiable order of withdrawal (now) accountloan on which the principal and the finance charges are repaid in fixed payments for a predetermined number of months


  5. investmentthe exchange of money for a promise to repay at a later date or for an ownership share in a business venture