Ch. 17 - Banking and the Financial Services

The United States is divided into ____ Federal Reserve districts.

• 4
• 8
• 12
• 16

A personal check with guaranteed payment is a

• cashier's check
• money order
• certified check
• traveler's check

The first document that must be completed when opening a checking account is the

• deposit slip
• reconciliation statement
• check register
• signature card

The Federal Deposit Insurance Corporation (FDIC) insures each account up to

• $50,000
• $100,000
• $250,000
• $1,000,000

The financial institution most likely to charge the highest rate for a loan would be a

• bank
• pay day loan
• credit union
• mortgage company

If deposit insurance is most important to you when selecting a bank, you are most concerned ?

• with safety
• with convenience
• with services
• with fees

A device used for cash ATM machine transactions is called a(n) _____.

• credit card
• debit card
• personal check
• certified check

A fee a bank charges for handling a checking account is called a(n) _____.

• outstanding charge
• hidden fee
• service charge
• additional charge

A report sent by the bank to a depositor showing the monthly status of his or her account is called ?

• a bank charge
• a commercial bank
• a stop payment order
• a bank statement

The owner of the account who signs the check is called a(n) ______.

• payee
• drawee
• drawer
• payer