QUESTIONS WITH ANSWERS GRADED A+
◍ Savings account. Answer: A bank or credit union account that is
insured and earns interest.
◍ Federal Reserve. Answer: The central banking system in the United
States.
◍ ATM. Answer: A machine used for withdrawing money.
◍ Check 21. Answer: The law that allows for electronic images of
checks to be transmitted for processing instead of paper checks.
◍ Online banking. Answer: A service that allows you to manage your
bank account via the internet.
◍ Demand deposits. Answer: Money placed in a checking account.
◍ Certificate of Deposit. Answer: A financial service best suited for
saving money over a period of years.
◍ Federal Deposit Insurance Corporation (FDIC). Answer: The
organization that insures bank deposits.