
Chapter 4 and 5 (Banking)
Authored by Scott Schumacher
Business
11th - 12th Grade
Used 2+ times

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19 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A safety deposit box is a safe way to store valuables in a banks vault.
True
False
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The following statement is true of Online banks?
Their low overhead costs allow them to pay higher interest rates on savings accounts.
Most of their services must be paid for with service charges.
Most interest banks also staff physical banks and branch offices.
They have high operating expenses because they must maintain enough staff to be available 24 hours a day.
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What banking service ensures a financial institution will honor a check even if it exceeds the account balance?
stop payment order
money order
check certification
overdraft protection
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
An example of a restrictive endorsement
Scott Schumacher
Mr. Scott Schumacher
Pay to the order of Mike Wolf, Scott Schumacher
For Deposit Only, Scott Schumacher
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
FDIC insures bank deposits in commercial banks for a maximum of?
$150,000
$250,000
$100,000
$300,000
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
On money loaned banks charge
more interest than what they pay on amounts in savings accounts
less interest than what they pay on amounts in savings accounts
same interest than what they pay on amounts in savings accounts
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is a disadvantage of a Certificate of Deposit(CD)?
Insured by FDIC
Require depositor to pay a fee to open account
Require depositor to leave money in the bank for a specified period of time
Interest rate is taxed at a higher rate.
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