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What Is Cash?

Essay by   •  March 18, 2016  •  Exam  •  408 Words (2 Pages)  •  1,045 Views

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Graded Assignment

Section 3 Study Questions

Instructions

Save the file in your Finance folder, and name it with Study, the section number, and your first initial and last name. For example, Jessie Robinson's study questions for Section 1 would be named Study1JRobinson.

Answer the questions for each lesson on the same day that you read the lesson. Save the file before closing it each day. Then turn in your answers to the study questions at the end of the section. Review Lesson 4 of the Course Overview for instructions about turning in your study questions.

Assignment

Total score: ____ of 6.0 points

Answer each question fully. Complete sentences are not necessary.

Lesson 1

(Score for Question 1: ___ of 0.5 points)

What is cash?

Answer: Cash is money that you can hold. Cash has instant value, unlike a credit card, which has to go through a process for the money to leave your account and go into the other person's account.

Type your answer here.

(Score for Question 2: ___ of 0.5 points)

What is a bank balance?

Answer: A bank balance is how much money you have direct access to in your bank account

Type your answer here.

(Score for Question 3: ___ of 1.0 points)

Name at least two things to consider when choosing a bank.

Answer: Risk protection, interest rates

Type your answer here.

(Score for Question 4: ___ of 1.0 points)

Name at least two risks banks face.

Answer: Too many people withdrawing money at one time, and people not paying back loans

Type your answer here.

Lesson 2

(Score for Question 1: ___ of 1.0 points)

List the three main types of transactions.

Answer: Withdraw,transfer, and deposit

Type your answer here.

(Score for Question 2: ___ of 0.5 points)

What are debit cards?

Answer: they are cards connect to your bank account, that are used

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