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5 Written questions

5 Matching questions

  1. certified check
  2. commercial bank
  3. bank reconciliation
  4. payee
  5. non-depository institution
  1. a do not take or hold deposits; earn their money selling specific services or policies
  2. b full service banks; offer a wide range of financial services from schecking accounts to loans to safe deposit boxes and trust accounts
  3. c person or business to whom the check is written
  4. d document created to show how the bank statement and your check register are brought into balance (equal one another)
  5. e a personal check for which a bank has guaranteed payment

5 Multiple choice questions

  1. a separate book, usually the same size as the checkbook, used for recording account activities
  2. the bank or other financial institution that pays the check
  3. a check that a bank draws on its own funds; it costs the purchaser the amount of the check plus a fee
  4. special forms designed for making payments when away from home; helpful when traveling so you do not have to carry cash
  5. a form of payment that orders the issuing agency to pay the amount printed on the form to another party

5 True/False questions

  1. Federal Reserve Systema nationwide banking plan set up by the federal government to supervise and regulate member banks

          

  2. drawerthe owner of the account who signs the check

          

  3. FDICperson or business to whom the check is written

          

  4. endorsementconsists of only the endorser's name; most unsafe way to endorse a check

          

  5. safe deposit boxesbanks offer these for storage of valuables

          

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