Principles of Business 9e Chapter 17

Front

State banks may not join the Federal Reserve System.

Back

False

Front

Savings and loan associations traditionally specialized in making loans for home mortgages.

Back

True

Front

Clearing refers to the process of making payments among different banks.

Back

True

Front

Stored-value cards allow you to use money that is in your checking account.

Back

False

Front

Only you or the bank has the right to open your safe-deposit box.

Back

False

Front

An interest-earning checking account is probably the best choice for people who write only a few checks each month.

Back

False

Front

A commercial bank often is called a full-service bank.

Back

True

Front

Sometimes two or more people have a checking account together, called a joint account.

Back

True

Front

The owner of the account who signs the check is the drawer.

Back

True

Front

A signature card is a written notice that tells the bank not to pay a certain check.

Back

False