Deposits and Negotiable Instruments (B5&6)

Front

A check must be endorsed before it can be cashed.

Back

True

Front

The most important factor impacting the flow of money in our economy is governmental actions.

Back

False

Front

This type of endorsement includes only your signature.

Back

blank

Front

This type of endorsement restricts the use of the instrument, often with the words "for deposit only."

Back

restrictive

Front

This type of endorsement transfers ownership of the check to a third party.

Back

full

Front

This type of endorsement limits the liability of the endorser when signing the check over to a third party.

Back

qualified

Front

Which type of account allows transactions to occur at any time and at any frequency?

Back

transaction account

Front

Which type of account will pay the LEAST amount of interest? Options: savings account, money market account, certificate of deposit

Back

savings account

Front

What is the most common type of negotiable instrument?

Back

check

Front

The Mobile Deposit Act allows for mobile check deposits by taking a photo of a check with your cell phone.

Back

False