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5 Written questions

5 Matching questions

  1. FDIC
  2. certified check
  3. special endorsement
  4. restrictive endorsement
  5. money orders
  1. a protects depositor's money in case of the failure of a bank; up to $250,000.00
  2. b a form of payment that orders the issuing agency to pay the amount printed on the form to another party
  3. c a personal check for which a bank has guaranteed payment
  4. d limits the use of the check to the purpose given in the endorsement
  5. e allows you to transfer a check to another person

5 Multiple choice questions

  1. a check that a bank draws on its own funds; it costs the purchaser the amount of the check plus a fee
  2. special forms designed for making payments when away from home; helpful when traveling so you do not have to carry cash
  3. the owner of the account who signs the check
  4. consists of only the endorser's name; most unsafe way to endorse a check
  5. written evidence that you received payment or that you transferred your right of receiving payment to someone else

5 True/False questions

  1. stop payment ordera written notice that tells the bank not to pay a certain check; banks usually charge a fee for this service

          

  2. joint accountwhen 2 or more people have an account together

          

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

          

  4. safe deposit boxesbanks offer these for storage of valuables

          

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