Banking

Taking more money out of your account than is available​ is called?

• Overdraw

• Deposit

• Withdraw

• Balance

What is one difference between Banks and Credit Unions?

• Banks have Checking accounts and Credit Unions have Savings Accounts

• Banks are for profit. Credit Unions are Non-profit.

• Banks can give loans and Credit Unions cannot

• Credit Unions allow everyone to join and Banks are selective

What is the amount of money required to be stay in an account?

• Maximum Balance

• Minimum Balance

• Minimum Deposit

• Maximum Deposit

What do you call the process of bringing your checkbook register into agreement with the bank statement?

• Withdrawal

• Deposit

• Reconciliation

• Endorsement

How do financial institutions make most of their money?

• Fees

• Interest

• Mutual Funds

• Loan Payments

The tools and strategies the Federal Reserve uses to stabilize the economy is called?

• Fiscal Policy

• Monetary Policy

• Tight Money

• Easy Money

Which type of check endorsement begins with "For deposit only to account No. 123456........."?

• blank

• special/full

• transfer

• restrictive

What types of loans do you know? (more than one answer)

• Savings

• Cash credit

• overdraft

• current

• Mortage

Which of the following are services granted by the banks? (more than one answer)

• Mobile banking

• Net-banking

• Collateral

• ATM

• Safeguarding

What is "interest"?

• Direct deposit

• Specialized savings

• Rate earned, compounding method, fee charged.