Future Business Leaders of America (FBLA) Agribusiness Practice Test

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What is an ATM?

  1. A device for automatic loan approvals

  2. A type of security measure for banks

  3. A bank account management tool

  4. An Automatic Teller Machine for bank transactions

The correct answer is: An Automatic Teller Machine for bank transactions

An Automatic Teller Machine, or ATM, is a self-service banking terminal that allows customers to perform financial transactions without the need for a bank teller. These transactions often include withdrawing cash, depositing money, transferring funds between accounts, and checking account balances. ATMs are designed to provide convenience and accessibility for users, enabling them to manage their banking needs at any time of day or night. This technology plays a critical role in modern banking by expanding access to financial services and reducing the workload on bank staff, thus enhancing the customer experience. Using the correct terminology, "Automatic Teller Machine," reflects an understanding of its functions within the banking system. Other choices, while related to banking services, do not accurately define what an ATM is or its primary function.

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