PF Study Guide

Front

What are the advantages of a credit union?

Back

They usually have lower fees, loan rates.

Front

Define blank endorsement.

Back

an endorsement consisting only of the endorser's signature

Front

Define special endorsement. Example: PAY TO THE ORDER OF JOHN SMITH SIGN YOUR NAME

Back

an endorsement that transfers the right to cash the check to someone else

Front

Define restrictive endorsement. Example: For deposit only SIGN YOUR NAME

Back

An endorsement found on the back of a check restricting further transfer of a check's ownership

Front

What is an outstanding check?

Back

An outstanding check is a check that has been written and issued by the company or person; however, it has not yet cleared the bank (not listed on the bank statement).

Front

What is the calculation for Simple Interest?

Back

principal x interest rate x time

Front

What is the role of the FDIC?

Back

provides insurance for depositors in insured banks up to $250,000 for accounts

Front

What is a cover letter?

Back

Submitted with your resume/application. It explains your purpose for writing and why you are eligible for this job. This is not detailed! It is a summary of the highlights of your qualifications and should state why you are a good candidate for the job.

Front

One of the best things you can do when applying for a specific job is to write the resume so it is __________ for that specific job.

Back

customized

Front

What is liability insurance on a car?

Back

Cover's the other person's car if you hit them and it is your fault. It will not repair your car.