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Information Flashcards

7 cards from real Bank Code practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Information flashcards as text

  1. What information does a bank statement primarily provide?

    Answer: A record of transactions and balances over a period

    A bank statement lists deposits, withdrawals, fees, and the resulting balances for a defined period.

  2. What does APR stand for in banking information?

    Answer: Annual Percentage Rate

    APR is the Annual Percentage Rate representing the yearly cost of borrowing including fees.

  3. What does APY measure for a savings account?

    Answer: The annual return including compound interest

    APY (Annual Percentage Yield) reflects the real rate of return including the effect of compounding.

  4. What is a CVV used for on a bank card?

    Answer: Verifying card-not-present transactions

    The CVV (Card Verification Value) is a security code used to verify online and phone purchases.

  5. What does the term 'available balance' mean?

    Answer: Funds you can use right now, excluding holds

    Available balance is the amount accessible for spending after pending transactions and holds are subtracted.

  6. On a debit card, what does the expiration date indicate?

    Answer: The last month the card is valid

    The expiration date shows the final month and year the physical card can be used.

  7. What does a sort code identify in the UK banking system?

    Answer: The bank and branch

    A UK sort code is a six-digit number identifying the specific bank and branch.