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Using the attached PowerPoint, answer the following questions.

1. What are the seven reasons we use bank accounts, and explain what each reason means in

your own words.

Reason Explanation

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2. What are the three types of accounts and individual can have? Explain each in your own

words.

Account Type Explanation

3. Define the following terms.

Account

Assets

ABM

ATM

Balance

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Bank

Certified Cheque

Chartered Bank

Cheque

Chequing Account

Credit Union

Debit Card

Internet Banking

Interest

Joint Account

Mortgage

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NSF

NSF Cheque( BouncedCheque)

Overdraft

Passbook (Bank Book)

Personal Identification

Number (PIN)

Reconciliation

Savings Account

Service Charge

Stop Payment

Withdrawal