Depository Institutions Vocabulary Quiz
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Questions and Answers

Which term refers to a machine that allows customers to complete transactions without human assistance?

  • Commercial bank
  • Checking account
  • Automated teller machine (ATM) (correct)
  • Debit card
  • What is a for-profit depository business that offers financial services to consumers and other businesses?

  • Credit Union
  • Savings account
  • Commercial bank (correct)
  • Mobile banking
  • Which type of payment transaction can be completed with no physical connection between the payment device and the point of sale terminal?

  • Interest rate
  • Online banking
  • Contactless payment (correct)
  • Savings tools
  • What is a plastic card that is electronically connected to the cardholder's depository institution account?

    <p>Debit card</p> Signup and view all the answers

    Which term refers to institutions that offer many banking services and are owned by their customers?

    <p>Credit Union</p> Signup and view all the answers

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