Deposits and Negotiable Instruments (B5&6)

A check must be endorsed before it can be cashed.

• True

• False

The most important factor impacting the flow of money in our economy is governmental actions.

• True

• False

This type of endorsement includes only your signature.

• blank

• full

• restrictive

• qualified

This type of endorsement restricts the use of the instrument, often with the words "for deposit only."

• blank

• restrictive

• full

• qualified

This type of endorsement transfers ownership of the check to a third party.

• blank

• restrictive

• qualified

• full

This type of endorsement limits the liability of the endorser when signing the check over to a third party.

• blank

• restrictive

• full

• qualified

Which type of account allows transactions to occur at any time and at any frequency?

• transaction account

• time deposit account

Which type of account will pay the LEAST amount of interest?

• savings account

• money market account

• certificate of deposit

What is the most common type of negotiable instrument?

• bill of exchange

• promissory note

• money order

• check

The Mobile Deposit Act allows for mobile check deposits by taking a photo of a check with your cell phone.

• True

• False