Banking and Checking Accounts Quiz

What is the name of the business form ordering a bank to pay cash from a bank account?

• Routing number

• Deposit slip

• Check

• Endorsement

What is the name of the bank account from which payments can be ordered by a depositor?

• Investment account

• Checking account

• Savings account

• Credit account

What is the name of the endorsement indicating a new owner of a check?

• Blank endorsement

• Consecutive endorsement

• Special endorsement

• Restrictive endorsement

What is the purpose of a restrictive endorsement?

• To guarantee payment of the check

• To transfer ownership of the check

• To indicate a new owner of the check

• To limit use of the check to a stated purpose

What is the purpose of consecutive numbers preprinted on checks?

• To record the purpose of the check

• To identify each check

• To indicate the amount of the check

• To calculate the new checking account balance

What is the purpose of preparing a check stub before writing the check?

• To record the purpose of the check

• To calculate the new checking account balance

• To avoid forgetting to prepare a check stub

• To identify each check

What is the name of the bank employee who accepted the deposit?

• FDIC

• FDIC

• RDS

• DEPOSIT

What is the purpose of a postdated check?

• To guarantee payment of the check

• To avoid forgetting to prepare a check stub

• To delay the withdrawal of money from a depositor's account

• To indicate a new owner of the check

What is the purpose of writing the amount in words on a check?

• To avoid forgetting to prepare a check stub

• To calculate the new checking account balance

• To indicate the amount of the check

• To verify the amount written in figures

What is the purpose of a blank endorsement?

• To guarantee payment of the check

• To indicate a new owner of the check

• To limit use of the check to a stated purpose

• To transfer ownership of the check