4 Questions
What is the term for an amount of money that a bank will lend to you, especially in order to buy a house?
Mortgage
What is the term for a written order from a bank to pay a sum of money to a named person?
Bank transfer
What is the term for the maximum amount of credit that a financial institution extends to a client?
Credit limit
What is the term for the value of one currency for the purpose of conversion to another?
Exchange rate
Study Notes
Banking and Finance Terminology
- A mortgage is an amount of money that a bank will lend to you, especially in order to buy a house.
- A check is a written order from a bank to pay a sum of money to a named person.
- A credit limit is the maximum amount of credit that a financial institution extends to a client.
- An exchange rate is the value of one currency for the purpose of conversion to another.
Test your knowledge of banking and financial terms with this quiz. Challenge yourself to understand various concepts related to loans, credit, debit, and more.
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