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5 Written questions

5 Matching questions

  1. hold
  2. nonsufficient funds (nsf)
  3. dissatissfied customer
  4. grace period
  5. maturity
  1. a indicates that the drawer's account balance is less than the amount of a check or withdrawal order presented for payment
  2. b stipulated time, following the date on which payment is due, during which no late fee is charged
  3. c the restriction of payment of part or all of the funds in an account
  4. d the date on which a note, draft, acceptance, or bond becomes due and payable
  5. e a result of unmet customer expectations and a cause of reduced business

5 Multiple choice questions

  1. the percentage rate charged for the use of money, usually quoted on an annual basis
  2. program whereby a check issuer delivers the check directly to the payee's bank for credit to his or her account
  3. involves the purchase of, or advance of, funds arising from installment sales for a customer selling aproduct or service
  4. loan on which the principal and the finance charges are repaid in fixed payments for a predetermined number of months
  5. person who signs and delivers (executes) a note or other promise to pay

5 True/False questions

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

          

  2. on us checka term used by a bank for a check drawn on the bank and presented to that bank for deposit or payment

          

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

          

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

          

  5. loanthe restriction of payment of part or all of the funds in an account

          

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