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5 Written Questions

5 Matching Questions

  1. outstanding checks
  2. blank endorsement
  3. traveler's checks
  4. check register
  5. commercial bank
  1. a full service banks; offer a wide range of financial services from schecking accounts to loans to safe deposit boxes and trust accounts
  2. b checks that have not been deducted from the bank statement balance
  3. c special forms designed for making payments when away from home; helpful when traveling so you do not have to carry cash
  4. d consists of only the endorser's name; most unsafe way to endorse a check
  5. e a separate book, usually the same size as the checkbook, used for recording account activities

5 Multiple Choice Questions

  1. the bank or other financial institution that pays the check
  2. a personal check for which a bank has guaranteed payment
  3. protects depositor's money in case of the failure of a bank; up to $250,000.00
  4. limits the use of the check to the purpose given in the endorsement
  5. first step in opening a checking account; document is used to verify your signature

5 True/False Questions

  1. bank statementconsists of only the endorser's name; most unsafe way to endorse a check

          

  2. cashier's checksa check that a bank draws on its own funds; it costs the purchaser the amount of the check plus a fee

          

  3. non-depository institutiondo not take or hold deposits; earn their money selling specific services or policies

          

  4. safe deposit boxesbanks offer these for storage of valuables

          

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

          

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