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5 Written questions

5 Matching questions

  1. depository institution
  2. drawee
  3. payee
  4. money orders
  5. credit union
  1. a accept deposits from people and businesses and use the deposits to finance their business
  2. b user-owned, not-for-profit, serving members only
  3. c the bank or other financial institution that pays the check
  4. d person or business to whom the check is written
  5. e a form of payment that orders the issuing agency to pay the amount printed on the form to another party

5 Multiple choice questions

  1. do not take or hold deposits; earn their money selling specific services or policies
  2. the report the bank will send (mail or email) you on the status of your account
  3. a separate book, usually the same size as the checkbook, used for recording account activities
  4. when 2 or more people have an account together
  5. document created to show how the bank statement and your check register are brought into balance (equal one another)

5 True/False questions

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

          

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

          

  3. outstanding checkschecks that have not been deducted from the bank statement balance

          

  4. blank endorsementwritten evidence that you received payment or that you transferred your right of receiving payment to someone else

          

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