Banking Review

Which of the following are NOT part of the Federal Reserve?

• Reserve Banks

• Board of Directors

• Federal Open-Market Committee

• US Mint

What might happen if you use an ATM that is not a part of your bank?

• Nothing

• The ATM Company charges you a fee

• Your Bank charges you a fee

• Both the ATM and your Bank charges you a fee

Which of the following accounts offers you the most flexibility?

• Checking

• Certificate of Deposits

• Savings

• Direct Deposit

What type of bank is run by it's members?

• Commercial Bank

• Credit Union

• Paycheck Advance

• Retail Bank

What is used to add money to your account?

• Deposit Slip

• Check

• Check Register

• Withdrawal Slip

A service charge will....

• Lower Your Balance

• Increase your balance

What is used to keep a record of your transactions?

• Check Register

• Restrictive Endorsement

• Net Deposit

• Reconciliation

What is the process of comparing check register balance and bank balance?

• Reconcilliation

• Net Deposit

• Check Register

• None of the Above

Hourly Wage

• Earned Income

• Unearned Income

Gambling Winnings

• Earned Income

• Unearned Income