Chapter 12 Review-Vocab Question Preview (ID: 40650)


Vocab Review. TEACHERS: click here for quick copy question ID numbers.

Companies that offer short-term loans to businesses and consumers at higher interest rates than banks charge.
a) Credit unions
b) Brokerage Firms
c) Finance companies
d) Commercial banks

The electronic transfer of a payment directly from the payer's bank account to that of the party being paid.
a) Electronic Funds Transfer
b) Direct Deposit
c) Collateral
d) Bank Account

Financial institutions that offer the entire range of banking services, such as checking and savings accounts, loans, and financial advice.
a) Finance companies
b) Commercial banks
c) Brokerage Firms
d) Credit unions

A system that allows money to be transferred from one bank account to another through a network of computers
a) Direct deposit
b) Collateral
c) Finance companies
d) Electronic funds transfer

Property or goods pledged by a borrower to use as security against a loan if it is not repaid.
a) Safe-deposit box
b) Collateral
c) Bank account
d) Direct deposit

A record of the amount of money a customer has deposited ito or withdrawn from a bank.
a) Bank account
b) Collateral
c) Brokerage
d) Federal Reserve System

Not-for-profit banks set up by organizations for their customers to use.
a) Commercial Banks
b) Finance Companies
c) Credit Union
d) Brokerage Firms

A secure box in a bank's vault used for the safe storage of a customer's valuables.
a) collateral
b) safe-deposit box
c) reserves
d) deposit

The central bank of the United States.
a) Commercial Bank
b) Credit Union
c) Federal Reserve System
d) Chase Bank

Companies that sell stocks and bonds and may also offer a wide range of financial services to their customers.
a) Brokerage firm
b) Credit union
c) Finance company
d) Federal Reserve

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