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5 Written questions

5 Matching questions

  1. safe deposit boxes
  2. signature card
  3. restrictive endorsement
  4. endorsement
  5. traveler's checks
  1. a special forms designed for making payments when away from home; helpful when traveling so you do not have to carry cash
  2. b written evidence that you received payment or that you transferred your right of receiving payment to someone else
  3. c banks offer these for storage of valuables
  4. d limits the use of the check to the purpose given in the endorsement
  5. e first step in opening a checking account; document is used to verify your signature

5 Multiple choice questions

  1. a check that a bank draws on its own funds; it costs the purchaser the amount of the check plus a fee
  2. user-owned, not-for-profit, serving members only
  3. person or business to whom the check is written
  4. the report the bank will send (mail or email) you on the status of your account
  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. depository institutionaccept deposits from people and businesses and use the deposits to finance their business


  2. outstanding checkschecks that have not been deducted from the bank statement balance


  3. drawerthe bank or other financial institution that pays the check


  4. joint accountuser-owned, not-for-profit, serving members only


  5. bank reconciliationdocument created to show how the bank statement and your check register are brought into balance (equal one another)


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