Vocabulary: Banking and Money - Quiz
  • 1. ATM: a machine, usually in a wall outside a bank, from which you can take money out of your bank account using a special card.
A) Automatic Teller Mechanism
B) Automated Teller Machine, another name for Bank Machine
C) Any Time Money Machine
D) Automated Teller Money
  • 2. bank balance
A) the amount of money in a bank account.
B) carrying your bank card on your head without dropping it.
C) money you wish you had
D) your cheque book
  • 3. bank charges
A) Balance of your account
B) money the bank owes you
C) A board game
D) sums of money paid by a customer for a bank's services.
  • 4. bank statement
A) a printed record of the money put into and removed from a bank account. This can be also found online
B) A policy a bank makes
C) The bank's distinct decor that identifies it from other banks. example RBC has royal blue colours.
D) A request you make of the bank
  • 5. bounce
A) when a check cannot be paid or accepted by a bank because of a lack of money in the account:
B) To move money from account to account
C) to move accounts from bank to bank
D) rubber banking materials
  • 6. cash
A) the name of a famous country star
B) Found in a "Ring of Fire"
C) Short for cashew
D) (noun) money in the form of notes and coins, rather than checks or credit cards: Do you have any cash on you?(verb) to exchange a check for cash: Would you cash a check for me?
  • 7. chequebook (btw - this IS the proper spelling
A) French for book of the checks
B) a book of checks / cheques with your name printed on them which is given to you by your bank to make payments with.
C) book of check marks
D) a book of bills from restaurants. ex. "Bring me the cheque, please"
  • 8. cheque (English spelling) Check (American Spelling) However, as the Queen says, "There is no such thing as American spelling. There is English and there are mistakes!"
A) A bank account that is correct.
B) a printed form, used instead of money, to make payments from your bank account:
C) Something you do to make sure you are correct
D) a bill for food at the restaurant
  • 9. credit
A) your reputation
B) money in your bank account OR a method of paying for goods or services at a later time, usually paying interest as well as the original money.
C) a course you pass.
D) an affirmation of good work
  • 10. credit card
A) a mother's day card promising to do chores for a month
B) card of promises
C) another name for a debit card
D) a small plastic card which can be used as a method of payment, the money being taken from you at a later time.
  • 11. Chequing Account
A) Banks offer different incentives for their chequing accounts, so it is a good idea to shop around for the one that fits your lifestyle the best!
B) An account that is used for everyday banking
C) All are correct!
D) a bank account that you can take money from at any time and which usually earns little or no interest.
  • 12. debit
A) (a record of) money put into a bank account.
B) a mysterious word.
C) a bank teller's swear word
D) (a record of) money taken out of a bank account.
  • 13. deposit or pay in
A) to put money into a bank account.
B) total money in your chequing account
C) total money in your savings account
D) money you take out of your bank account
  • 14. direct deposit
A) A type of bank account
B) Money put directly into your account from another person. Ex. pay cheques that are put directly into your account from your employer
C) A type of Bank
D) another term for online banking
  • 15. expense
A) a large area
B) A fun time
C) when you spend or use money. Ex. Buying a bigger car has proved to be well worth the expense. We've just had a new garage built at great expense.
D) To make bigger
  • 16. insurance
A) a sum of money which is borrowed, often from a bank, and has to be paid back, usually together with an additional amount of money that you have to pay as a charge for borrowing.
B) an agreement in which you pay a company money and they pay your costs if you have an accident, injury, etc:
C) when you spend or use money.
D) an agreement in which you pay a company money and they pay your costs if you have an accident, injury, etc:
  • 17. interest
A) a sum of money which is borrowed, often from a bank, and has to be paid back, usually together with an additional amount of money that you have to pay as a charge for borrowing.
B) an agreement in which you pay a company money and they pay your costs if you have an accident, injury, etc:
C) 1. money which is charged by a bank or other financial organization for borrowing money. I got a loan with an interest rate of 10%. 2. money that you earn from keeping your money in an account in a bank or other financial organization. You should put the money in a savings account where it will e
D) when you spend or use money.
  • 18. loan
A) money which is charged by a bank or other financial organization for borrowing money.
B) a sum of money which is borrowed, often from a bank, and has to be paid back, usually together with an additional amount of money that you have to pay as a charge for borrowing. She's trying to get a $100 000 loan to start her own business.
C) money that you earn from keeping your money in an account in a bank or other financial organization.
D) an agreement in which you pay a company money and they pay your costs if you have an accident, injury, etc:
  • 19. NSF
A) nonsense family
B) Non Sufficient Fund - not enough money in the bank to cover the amount of money you wrote written on a cheque that is deposited.
C) National Science Foundation
D) no sunny Fridays
  • 20. overdraft
A) Too many people ordered to join the army
B) Too many people chosen for a football team
C) Too much air in the fireplace
D) The act of overdrawing a bank account.
  • 21. payee
A) Another word for employer
B) French for "pay"
C) A person who pays someone
D) a person who money is paid to or should be paid to.
  • 22. A Savings Account
A) Your sock drawer
B) a bank account in which you usually leave money for a long time and which pays you interest.
C) a sum of money which is borrowed, often from a bank, and has to be paid back, usually together with an additional amount of money that you have to pay as a charge for borrowing.
D) Non Sufficient Fund
  • 23. income tax
A) GST
B) HST
C) (an amount of) money paid to the government, which is based on your income
D) PST
  • 24. Sales tax on goods and services
A) We don't have this in Canada
B) HST;GST;PST
C) Income Tax
D) A monopoly chance card
  • 25. Harmonized Sales Tax
A) Income Tax
B) GST
C) HST
D) PST
  • 26. Goods and Services Tax
A) HST
B) Income Tax
C) GST
D) PST
  • 27. Provincial Sales Tax
A) PST
B) HST
C) Income Tax
D) GST
  • 28. What does NS have?
A) No tax
B) GST
C) HST
D) PST
  • 29. withdraw
A) To put your money in a sock drawer
B) to take money out of a bank account.
C) To put money into your account
D) To leave a bank
  • 30. currency
A) the fact or quality of being generally accepted or in use. "the term gained currency during the second half of the 20th century"
B) a dish of meat, vegetables, etc., cooked in an Indian-style sauce of strong spices and typically served with rice.
C) A type of horse comb
D) The definition of currency is the money system used in a country, especially paper money. An example of currency is the Canadian dollar, the British Pound or the Euro.
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