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5 Written Questions

5 Matching Questions

  1. payee
  2. endorsement
  3. traveler's checks
  4. blank endorsement
  5. bank reconciliation
  1. a person or business to whom the check is written
  2. b consists of only the endorser's name; most unsafe way to endorse a check
  3. c document created to show how the bank statement and your check register are brought into balance (equal one another)
  4. d special forms designed for making payments when away from home; helpful when traveling so you do not have to carry cash
  5. e written evidence that you received payment or that you transferred your right of receiving payment to someone else

5 Multiple Choice Questions

  1. a nationwide banking plan set up by the federal government to supervise and regulate member banks
  2. allows you to transfer a check to another person
  3. a check that a bank draws on its own funds; it costs the purchaser the amount of the check plus a fee
  4. do not take or hold deposits; earn their money selling specific services or policies
  5. when 2 or more people have an account together

5 True/False Questions

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

          

  2. commercial banka personal check for which a bank has guaranteed payment

          

  3. signature cardfirst step in opening a checking account; document is used to verify your signature

          

  4. depository institutionaccept deposits from people and businesses and use the deposits to finance their business

          

  5. credit unionwhen 2 or more people have an account together

          

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