CH 9 Checking & Banking Services Pers Finc

Darren writes a check to the phone company for $45.60. He should record this amount in what part of his checkbook register?

• Fee Column
• Deposit/Credit Column
• Payment/Debit Column
• Balance Column

What is a check written by a bank on its own funds is called?

• certified check
• cashier's check
• traveler's check
• money order

When a check is returned to the payee’s bank due to insufficient funds, the check is said to have?

• bounced
• been postdated
• floated
• been canceled

When you open a checking account, most banks will require you to have an initial deposit of at least how much?

• $50
• $250
• $500
• $1,000

Which part of a check provides a place for you to write the purpose of the check?

• the signature line
• the payee line
• the memo line
• the routing number

What is the person who cashes a check?

• depositor
• payee
• demander
• maker

A check is written to Taylor Thomas. On the back of the check, Taylor writes “Pay to the order of Rose Dryer,” then signs her name. What kind of endorsement is this?

• special endorsement
• partial endorsement
• blank endorsement
• restrictive endorsement

A money order can never bounce.

• True
• False

The usual reason for a stop-payment order is that the check has been lost or stolen.

• True
• False

A check cannot be cashed until it has been reconciled.

• True
• False