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5 Written questions

5 Matching questions

  1. financing
  2. Demand deposit
  3. interest
  4. maker
  5. money market instruments
  1. a involves the purchase of, or advance of, funds arising from installment sales for a customer selling aproduct or service
  2. b funds that are available to the customer at any time and that require no advance notice of withdrawal, usually drawn against by writing checks
  3. c the amount paid by a borrower to a lender in exchange for the use of the lender's money over a certain period
  4. d person who signs and delivers (executes) a note or other promise to pay
  5. e private and government obligations with a maturity of one year or less

5 Multiple choice questions

  1. business contract by which a borrower and lender enter into an agreement
  2. the restriction of payment of part or all of the funds in an account
  3. loan on which the principal and the finance charges are repaid in fixed payments for a predetermined number of months
  4. indicates that the drawer's account balance is less than the amount of a check or withdrawal order presented for payment
  5. a bank's term for a check presented to it for deposit or payment but drawn on another bank

5 True/False questions

  1. Deliverytransfer of the possession of an item from one person to another


  2. dissatissfied customera customer who presents problems that cannot be solved, expresses anger, or displays disruptive behavior


  3. direct depositprogram whereby a check issuer delivers the check directly to the payee's bank for credit to his or her account


  4. megotiable order of withdrawal (now) accounta deposit account from which funds can be drawn by writing a check


  5. grace periodthe date on which a note, draft, acceptance, or bond becomes due and payable


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