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5 Written questions

5 Matching questions

  1. non-depository institution
  2. drawee
  3. commercial bank
  4. FDIC
  5. cashier's checks
  1. a do not take or hold deposits; earn their money selling specific services or policies
  2. b the bank or other financial institution that pays the check
  3. c a check that a bank draws on its own funds; it costs the purchaser the amount of the check plus a fee
  4. d protects depositor's money in case of the failure of a bank; up to $250,000.00
  5. e full service banks; offer a wide range of financial services from schecking accounts to loans to safe deposit boxes and trust accounts

5 Multiple choice questions

  1. special forms designed for making payments when away from home; helpful when traveling so you do not have to carry cash
  2. consists of only the endorser's name; most unsafe way to endorse a check
  3. user-owned, not-for-profit, serving members only
  4. a form of payment that orders the issuing agency to pay the amount printed on the form to another party
  5. a personal check for which a bank has guaranteed payment

5 True/False questions

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

          

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

          

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

          

  4. restrictive endorsementallows you to transfer a check to another person

          

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

          

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