End of Quarter Review 2

A credit union is a corporation, owned by stockholders.

• True

• False

Taking money out of your account is called a:

• Deposit

• Withdrawal

This type of account allows you to deposit money intended for future use:

• Checking Account

• Savings Account

This fee is charged when your account does not have enough money in it to cover a payment:

• Stop Payment

• Overdraft Protection

• Insufficient Funds

• Monthly Service Fee

This service is offered by your financial institution and will move money from one bank account to another to cover incoming charges for a small fee:

• Stop Payment

• Overdraft Protection

• Insufficient Funds

• Interest

The central banking system of the United States is:

• The U.S. Treasury

• The U.S. Mint

• The Federal Reserve

• Bank of America

The unique set of numbers that identifies a person's individual account at a financial institution is called the routing number.

• True

• False

Which type of financial institution is a cooperative, owned by its members who share a common interest:

• Bank

• Credit Union

Which type of financial institution is usually larger, with more locations among many states?

• Bank

• Credit Union

Which of the following types of accounts is the only one in which your money is "locked in," or unavailable for you to use for a certain period of time?

• Money Market

• Checking Account

• Savings Account

• Certificate of Deposit