Financial Institutions Review

A "spoof" or a fake email that appears real , is part of what investment scam?

• Spoofing

• a pyramid scheme

• affinity fraud

• phishing

Which of the following is a disadvantage of using cash a form of financial exchange?

• The risk of theft decreases

• Cash payments often incur fees

• There is a higher risk of fraud

• It is easy to steal or lose.

What is a tip to paying bills on time?

• Notify businesses to let them know that time extensions are needed.

• Set aside two times a month to pay bills.

• Pay bills as soon as they arrive.

• Require businesses to use direct deposit into your account.

Monitoring financial accounts and reading bank statements on a regular basis can help detect activities associated with

• Personal hijacking

• Property infringement

• Identity theft

• security fraud

Reconciling a personal bank statement is the process of determining any differences between the bank statement balance and the

• Checkbook balance

• Balance Sheet

• Deposit Slips

• Installment amount

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

• 2 weeks

• 4 weeks

• 3 months

• 6 months

a ________________ endorsement results when the payee signs on the back "for deposit only" and signs their name.

• Blank

• Special

• Joint

• Restrictive

A check that has been processed by the bank and has been subtracted from the depositor's account is called

• Cleared

• Special

• Outstanding

• Blank

The process of matching your checkbook register with the bank statement is called

• Journaling

• Reconciling

• Totaling

• Depositing

When a payment on a check is prevented by the bank before it can be made to the payee, it is a(n)

• Overdraft

• Cashier's check

• Stop payment order

• Service fee