The crossword solution for the term 'Took a Chunk Out Of' is BIT. BIT is an acronym for Binary Digit, which is the smallest unit of data in a computer. It is represented by either a 0 or 1 and is used to represent information in a digital system. BIT is also used to describe a small amount of something, such as a BIT of food or a BIT of money. Therefore, the phrase 'Took a Chunk Out Of' can be interpreted as taking a small amount away from something.