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5 Written questions

5 Matching questions

  1. megotiable order of withdrawal (now) account
  2. direct deposit
  3. on other check
  4. Demand deposit
  5. loan
  1. a a deposit account from which funds can be drawn by writing a check
  2. b a bank's term for a check presented to it for deposit or payment but drawn on another bank
  3. c program whereby a check issuer delivers the check directly to the payee's bank for credit to his or her account
  4. d funds that are available to the customer at any time and that require no advance notice of withdrawal, usually drawn against by writing checks
  5. e business contract by which a borrower and lender enter into an agreement

5 Multiple choice questions

  1. transfer of the possession of an item from one person to another
  2. the exchange of money for a promise to repay at a later date or for an ownership share in a business venture
  3. the date on which a note, draft, acceptance, or bond becomes due and payable
  4. the amount paid by a borrower to a lender in exchange for the use of the lender's money over a certain period
  5. involves the purchase of, or advance of, funds arising from installment sales for a customer selling aproduct or service

5 True/False questions

  1. depositto leave money or items with a bank for credit to a bank account


  2. lendingcharging a fee for the use of money


  3. dissatissfied customera result of unmet customer expectations and a cause of reduced business


  4. interest ratethe percentage rate charged for the use of money, usually quoted on an annual basis


  5. holdthe restriction of payment of part or all of the funds in an account


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