Banking and Financial Systems

The process of determining standards and procedures for dealing with judgmental

decisions affecting other people is called:

• mission

• standards

• ethics

• courtesy

_______ is the act of opening accounts at two or more institutions and using the "float

time" of available funds to crate fraudulent balances.

• Counterfeiting

• Reconciliation

• Check kiting

• Forgery

The amount an original deposit will be worth in the future based on its earning a

specific interest rate over a specific period of time is referred to as:

• future value

• present value

• current value

• time value

Which one of the following is not a typical duty of a bank teller?

• balance the cash drawer daily

• prepare currency and coin for retail customers

• sell savings bonds

• manage large sums of money placed in trust with the bank according to clients’

  wishes

What is one type of deduction that employers are required to take from an employee’s

paycheck?

• social security

• estate tax

• sales tax

• discretionary tax

Individuals who you financially support in your household are:

• dependents

• heirs

• tax shelters

• exemptions

What are you typically required to fill out first before you can rent an apartment?

• credit application

• homeowner application

• sales application

• rental application

A point is a value equal to ___ of a mortgage loan.

• 2 percent

• 10 percent

• 1 percent

• 5 percent

What is the additional insurance that many finance companies require owners to pay

for when they finance an auto loan?

• gap

• home

• life

• payment

______ are interactive bank kiosks that provide customers all services except cash

transactions without actual bank tellers.

• Virtual tellers

• Electronic tellers

• ATMs

• Virtual agents