Check and Banking Quiz

What is a check, and how is it also known?

• A. A loan document; a promissory note

• B. A negotiable instrument; a draft

• C. A credit card; a payment card

• D. A stock certificate; an equity instrument

What are 3 requirements for a check under UCC?

• A. Payable upon demand

• B. Maker must sign the check

• C. Written for a specific amount

• D. Made payable to Maker.

List all the elements that make a check negotiable (Dr. Damps).

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Reg CC regulates the availability of .

• A. Tellers

• B. Tuition

• C. Funds

• D. Cream of Corn

What action should be taken if True Checks recommends a hold?

• A. Ignore the recommendation

• B. Automatically approve the check

• C. Place a hold on the check

• D. Contact the account holder

What are the steps in the Check Hold Review Criteria for payroll checks.

• A. VOD, Returned Checks, NBA

• B. ODP, NSF, TUV

• C. Depth of Relationship, Returned item, DOC

• VOD, NSF, and ODP

"For deposit only to account #12345678." is an example of which type of endorsement?

• A. Blank

• B. Restrictive

• C. Special

• D. Conditional

• E. Qualified

A cashier's check can be left blank or made payable to cash.

• A. True

• B. False

Personal check that the bank certifies is genuine and that there is enough money to cover the check.

• A. blank check

• B. certified check

• C. money order

• D. traveler's check

What is a check that has not been returned for processing to the financial institution from where it originated?

• A. Oustanding

• B. Voided

• C. Cashed

• D. Authorized