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5 Written questions

5 Matching questions

  1. cashier's checks
  2. non-depository institution
  3. certified check
  4. money orders
  5. stop payment order
  1. a a personal check for which a bank has guaranteed payment
  2. b a check that a bank draws on its own funds; it costs the purchaser the amount of the check plus a fee
  3. c a written notice that tells the bank not to pay a certain check; banks usually charge a fee for this service
  4. d a form of payment that orders the issuing agency to pay the amount printed on the form to another party
  5. e do not take or hold deposits; earn their money selling specific services or policies

5 Multiple choice questions

  1. the bank or other financial institution that pays the check
  2. the owner of the account who signs the check
  3. a separate book, usually the same size as the checkbook, used for recording account activities
  4. checks that have not been deducted from the bank statement balance
  5. banks offer these for storage of valuables

5 True/False questions

  1. credit unionuser-owned, not-for-profit, serving members only


  2. FDICprotects depositor's money in case of the failure of a bank; up to $250,000.00


  3. special endorsementallows you to transfer a check to another person


  4. traveler's checksspecial forms designed for making payments when away from home; helpful when traveling so you do not have to carry cash


  5. restrictive endorsementlimits the use of the check to the purpose given in the endorsement