Chapter 17 Intro to Business

The financial institution most likely to charge the highest rate for a loan would be a

• bank

• pawnshop

• credit union

If deposit insurance is most important to you when selecting a financial institution, you are most concerned with

• safety

• convenience

• services

Using a debit card is similar to writing a check.

• True

• False

Automatic payments are made through automatic teller machines (ATM).

• True

• False

If you write only a few checks each month you should consider a regular checking account.

• True

• False

The first document that must be completed when opening a checking account is the

• Deposit slip

• Check register

• Signature card

A personal check with guaranteed payment is a

• Cashier's check

• Money Order

• Certified check

A bank that offers a full range of financial services is called a

• Commercial bank

• Credit Union

• Federal Reserve System

A user-owned, not-for-profit cooperative financial institution is called

• Commercial bank

• Credit Union

• Federal Reserve System

A fee a bank charges for handling a checking account

• Stop payment order

• Service Charge

• Check charge