BusinessU Lessons 3-3 & 3-4

Front

True or False: A restrictive endorsement is a form of endorsement where a payee assigns a check to a third party

Back

False

Front

Which of the following is not a step in the check writing process? Writing the name of the individual or organization, Writing the amount due, Writing your account number, Writing a quick summary of the purpose

Back

Writing your account number

Front

If you deposit a check/money, which of the following is a reason why you can’t deposit your check/money? There’s not enough money in your bank account, You didn’t fill out a deposit slip, You have a restrictive endorsement

Back

You didn’t fill out a deposit slip

Front

When depositing money into a savings account, how much money does the FDIC ensure?

Back

250k

Front

What happens if you withdraw money prematurely from your CD?

Back

There is a “penalty for early withdrawal”

Front

Which is an interest-bearing deposit account that places limitations on the number of monthly withdrawals allowed?

Back

Savings Account

Front

Which of the following is a general indicator of the economy? Money Market Account, Inflation, Certificate of Deposit, Savings Account

Back

Inflation

Front

What is the interest rate at which eligible depository institutions can borrow short term funds directly from the Federal Reserve Bank?

Back

Discount Rate

Front

A _____ account is primarily designed for frequent deposits transactions

Back

Checking

Front

Savings or MMA? Which of the following has a unique check-writing and credit card capability?

Back

Money Market Account