February - Banking and Financial Systems

COMPETENCIES​

1. Financial institutions
   
   1. Definition and purpose
      
   2. FDIC
      
   3. Types 
      
      1. Retail and commercial banks
         
      2. Credit unions
         
      3. Insurance companies
         
      4. Brokerage firms
         
      5. Savings and loan institutions
         
      6. Investment banks
         
   4. https://www.thebalance.com/what-is-a-financial-institution-5190896
      
2. Types of banking services
   
   1. Checking account 
      
      1. Overdrafts
         
      2. Service charges
         
      3. Direct deposit, electronic funds transfer (EFT), ATMs, cashless banking
         
      4. Opening a checking account
         
      5. https://www.investopedia.com/terms/c/checkingaccount.asp
         
   2. Savings account
      
      1. https://www.investopedia.com/terms/s/savingsaccount.asp
         
   3. Certificate of deposit (CD)
      
      1. https://www.investopedia.com/terms/c/certificateofdeposit.asp
         
   4. Money market account
      
      1. https://www.investopedia.com/terms/m/moneymarketaccount.asp
         

February QUIZ

Updated  2/23/22