MONEY MATTER CHAPTER 9

A money order can never bounce.

• True
• False

A check written by the bank on its own funds is

• electronic funds transfer
• money order
• cashier's check
• certified check

FDIC insurance protects the deposits of customers against loss up to $1,000,000 per account.

• True
• False

The person who cashes a check is called the

• payee
• depositer
• maker
• demander

A request that a bank not honor a specific check is called a(n)

• overdraft order
• stop-payment order
• cancellation request
• void request

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

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

A check written for more money than your account contains is called a(n)

• blank
• overdraft

An interest-bearing checking account that pays a higher rate of interest than a usual account, but typically has more restrictions, is called a 

• special account
• standard account
• share account
• money market account

A(n) ______endorsement is the signature of the payee written exactly as his or name appears on the front of the check

• blank
• certified

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

• $1000
• $500
• $250
• $50