Date post: | 18-Dec-2015 |
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Pretest
1. A deposit is how I pay someone.2. A check can only be used to put something
into the bank.3. A financial institution is a car dealership.4. Financial institutions are businesses.5. A net deposit is the amount of money
deposited into an account, minus any cash received
Learning Objectives
• Explain that financial institutions are business• Name services that financial institutions
provide• Name the parts of a checkbook• Complete a deposit ticket and maintain a
check register correctly• Define net deposit
Credit Card• A card that allows the holder to buy goods and
services by taking out a bank loan for the purchases
Checks• Written orders to a bank to pay a certain
amount of money from a checking account to another person or business
Check Register• A booklet for recording the money that is put
into (deposited) or removed (withdrawn) from the checking account
1. A financial institution…A. Is a businessB. Provides money related servicesC. Accepts deposits and makes loansD. All of the above
2. Checking Accounts…A. Use an ATMB. Can be used to pay billsC. Never put money into your checking
account
3. Debit Cards
A. Are NOT like virtual checksB. Are savings accountsC. Allows people to withdraw money
immediately from their checking accountsD. Does NOT allow people to withdraw money
from their checking accounts
4. A loan…
A. Is money borrowed, but does not have to be repaid
B. Is money borrowed, but has to be repaid without interest
C. Is money borrowed but has to be repaid with interest
D. Is money
5. Interest
A. Interest doesn’t existB. Interest is NOT a fee for the use of goodsC. Interest is a fee for the use of goodsD. Interest is a fee received for the use of
money
True or False6. Checks are written orders to a bank
to pay a certain amount of money from a checking account to another person or business.
True or False8. A check register is a booklet for
recording the money that is put in and taken out from the checking account.
Exit Ticket
1. What term means the amount of money deposited into an account, minus any cash that is received?
A. Check RegisterB. Net DepositC. Endorse