moment

Five minutes, or one quarter of a chime. A short period of time about which a distinct memory may be formed. Used especially in academia.

Take a moment to study the three diagrams in Chapter 1 and note the similarities.

chime

One third of an hour, consisting of twenty minutes or four moments. A convenient period of time in which to complete a small, but involved task.

Take a chime to review yesterday's notes, and another to write a one-page response.