PF - Ch. 5 Banking Review

What is a check written by a bank on its own funds called?

• certified check

• cashier's check

• stop payment order

• money order

Checks over ______ old may not be honored by a bank.

• 4 weeks

• 2 weeks

• 6 months

• 3 months

A ______ endorsement results when the payee signs over a check to a third person.

• blank

• joint

• special

• restrictive

A _______ endorsement results when the payee signs on the back "For Deposit Only" and signs his / her name.

• special

• blank

• joint

• restrictive

A(n) _______ is a banking service in which a customer deposits money and writes checks to withdraw at his / her convenience.

• stop payment order

• checking account

• money order

• savings account

A(n) _______ occurs when a depositor writes a check on an account that is insufficient to cover a check.

• debit

• overdraft

• stop payment

The person to whom a check is made payable is called the ___.

• payor

• payee

• parent

• co-signer

A(n) ____ is the record of checks written and deposits made in a checking account, kept by the depositor.

• log

• check

• reconciliation

• checkbook register

A(n) ____ is sent by the bank regularly, listing checks and deposits processed by the bank, as well as charges and credits to an account. These can be found in you bank account online now also.

• list

• bank statement

• check

• checkbook reconciliation

_____ cards provide immediate deductions from your checking account when you make a purchase.

• Debit

• Bridge

• Savings

• Credit