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25 Cards in this Set

  • Front
  • Back

Certified Check

A bank guarantee that your personal check is good

Cashier's Check

A check drawn against a bank as opposed to your account

Credit Unions

A not for profit organization that is open only to members of that institution and tends to offer more favorable interest rates to borrowers and savers


Abbreviation for Federal Depository Insurance Corporation

Money-Market Mutual Funds

Advantage is high interest rates, check writing privileges and minimal risk

Online and Mobile Banking

Allows you to access your accounts at any time of day, transfer funds between accounts and pay bills and receive payments online

Overdraft Protection

An automatic loan made to your checking account whenever your account does not contain enough cash to cover the checks that you have written against it


Another name for an interest-bearing checking account

Cash Management Alternatives

By comparison you should compare returns using comparable interest rates or take into account their tax status or consider their safety or risk

Checking Account Alternatives

Cashiers checks and money orders are an alternative

Checking Accounts

Common fees for these accounts include monthly fees, minimum balance fees and charges per check

Savings and Loans Association

Financial institution originally established to provide mortgage loans to depositors

Deposit-Type Financial Institutions

Financial institutions providing traditional checking and saving accounts

APY Conversions

Important to convert interest rates into this on different accounts and with different banks since rates will vary with different compounding periods

Liquid Assets

Investments that can be easily converted into cash

Liquid Asset Characteristics

Low risk, a temptation to spend and low return

Asset Management Accounts

Name for comprehensive financial services packages offered by brokerage firms

Certificate of Deposit

Savings alternative that pays a fixed rate of interest and keeps your funds on deposit for a contracted period of time ranging from 30 days to several years


Short terms notes of debt issued by the federal government are commonly called

Mutual Fund Firm

The name of an investment company that raises funds from investors, pools the money and invests in stocks or bonds

Opportunity Costs

These costs as associated with checking accounts include low interest rates and high minimum balance requirements

Liquid Assets 2

These cover unplanned expenses and prevent interrupting your long term investments and prevent overdrafts in checking accounts

Money Market Deposit Accounts

These offer a higher interest rate than savings account at commercial banks


This converts interest rates compounded for different periods into comparable annual rates, allowing you to compare interest rates easily

Truth in Savings Act 1993

This law helps investors compare interest rates on investment options