Unit 4 Banking Review

What is an exchange rate?

• how much bonds are worth when they're exchanged with cash

• how much dollars are worth when they are exchanged with coins

• how much a currency is worth when it's exchanged with another country's currency

What is the amount of money in a bank account called?

• Debit

• Check Register

• Account Total

• Balance

Which transaction method should a person choose if it is important to them to talk to a bank employee?

• Direct Deposit

• Online

• Bank Branch

• Funds Transfer

Which feature is less important to consider when choosing a bank?

• the types of accounts the bank offers

• the financial services the bank offers

• the number of employees at each bank branch

Which feature is typically not a feature of checking accounts?

• ATM Transactions

• A minimum balance

• Interest

• A debit card

Which type of check endorsement includes text that states a person shouldn't be responsible if its funds are insufficient?

• Blank endorsement

• Restrictive Endorsement

• Qualified Endorsement

• Special Endorsement

What is an overdraft?

• spending more money than you have in your account

• not making deposits frequently enough

• making purchases at too many different retailers

Which right is a right that's given to anyone who has a bank account?

• the right to refuse to pay overdraft fees

• the right to be told what fees or minimum balances an account has

• the right to change the minimum balance on the account

What does using a checking register let a person do?

• make purchases online

• keep track of the visits you make to a bank branch

• keep track of transactions that affect an account

What is direct deposit?

• a deposit an employer makes into an employee's account

• an interest payment from the bank

• a deposit made at an ATM
  

• a deposit made between two bank accounts