W!se Test Blueprint Part II: Banks and Banking

Front

List assets from MOST liquid to LEAST liquid: Savings accounts, certificates of deposit (CD), real estate.

Back

Savings accounts, certificates of deposit (CD), real estate.

Front

Reasons someone might decide not to give a gift card.

Back

Gift cards can expire or include fees that reduce their value over time.

Front

What is the safest option for receiving payment, instead of cash, when selling an item to an unknown person? Options: Crypto currency, Personal check, Money order, Loan agreement.

Back

Money order.

Front

Back

return the check because of insufficient funds and charge a fee.

Front

Which of the following best describes the difference between a debit and credit card?

Back

Debit cards allow you to spend money that you already have in your bank account, while credit cards allow you to borrow money up to a certain amount.

Front

Which statement best describes a credit union?

Back

A non-profit organization that offers financial services to its members.

Front

What is the primary purpose of banks?

Back

To safeguard money and provide financial services.

Front

A restricted endorsement typically includes .

Back

A person’s signature and “For Deposit Only.”

Front

What does a person do when they reconcile a bank account?

Back

Compare the bank statement with the account holder's records and make any necessary adjustments.

Front

Why might a person place a stop payment on a check?

Back

To cancel the check and prevent it from being cashed.