Exam (elaborations)
CFM-Checking_Banking Questions with 100% Correct Answers Verified Latest Update 2024
- Module
- CFM REVIEW
- Institution
- CFM REVIEW
CFM-Checking_Banking Questions with 100% Correct Answers Verified Latest Update 2024
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CFM-Checking/BankingAccount Number - ✅✅-The number assigned to an account.
ATM - ✅✅ -Automated Teller Machine, allows card holder to withdrawal money from
person's account.
Bank -✅✅-A for-profit institution that offers personal loans, mortgages, and other services.
Bank Reconciliation Statement - ✅✅-Statement that brings checkbook and bank statement
balances into agreement.
Bank Statement - ✅✅-A report of deposits, withdrawals, and bank balances sent to a
depositor by a bank.
Blank Endorsement - ✅✅-An endorsement consisting only of the endorser's signature.
Budget - ✅✅ -A detailed financial forecast used to plan, control and evaluate your spending
and saving in order to satisfy immediate needs and reach future goals.
Check -✅✅-A business form ordering a bank to pay cash from a bank account.
Check Number - ✅✅-A number identifies each personal check, found at the top right of a
personal check that identifies that specific
check.
Check Register - ✅✅ -The book in which you keep records of checks, deposits, debit card
transactions, and ATM withdrawals.
Checking Account - ✅✅-A bank account from which payments can be ordered by a
depositor.
Credit Union - ✅✅ -A nonprofit financial institution that is owned by its members and
organized for their benefit.
Debit Card - ✅✅ -Combination of an ATM and a check, money spent comes directly from
person's account.
✅✅-A written record of money put into a checking account.
Deposit Ticket -
Electronic Commerce - ✅✅-The buying and sell of goods and services, or the transfer of
money, over the Internet.
✅✅-A signature or stamp on the back of a check transferring ownership.
Endorsement -
Megabyte Money - ✅✅-A medium of exchange, frequently replacing currency and checks
as a system of payment.
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