WorksheetsBanking and Financial Services
Total questions: 25
Worksheet time: 19mins
You can store valuables at a bank by purchasing the use of a
safe deposit box
post office box
padlock box
strong box
6. Almost ___________________ percent of U.S. banks are FDIC members.
50
90
75
99
This nondeposit financial institution specializes in making loans for long-lasting or durable goods, such as cars and refrigerators, and for financial emergencies.
consumer finance company
pawnshop
credit union
investment company
Which of the following is NOT a deposit institution?
mutual savings bank
commercial bank
check-cashing outlet
savings and loan association
The paying of checks among different banks in different cities is called
clearing
reserving
kiting
bouncing
Mutual savings banks are organized mainly for
business loans.
check cashing.
automobile loans.
savings and home loans.
Except for some retirement accounts, the FDIC insures all accounts in the same name at each bank up to an amount of
$2,500.
$25,000.
$250,000.
$2,500,000.
Which type of checking account is probably the best choice
for someone who writes many checks per month?
interest-earning checking account
activity checking account
regular checking account
special checking account
An interest-earning checking account
usually requires a lower monthly balance than regular checking accounts.
generally pays very high interest rates.
is a good choice if you are depositing a large amount of money.
usually earns interest only if the account stays above the required amount.
You use a ____________________ card for ATM transactions.
debit
credit
smart
stored-value
When you put money into your checking account, you will fill out a
check stub
check register
signature card
deposit slip
Zack has endorsed a check by writing “For deposit only” above his signature. This is a
restrictive endorsement.
blank endorsement.
full endorsement.
special endorsement.
The person to whom a check is written is the
drawer
payee
endorser
drawee
A personal check for which a bank has guaranteed payment is called a
a. banker’s check.
b. cashier’s check.
c. certified check.
d. traveler’s check.
banker's check
cashier's check
certified check
traveler's check
This type of money order is typically issued by travel agencies, supermarkets, pharmacies, and convenience stores.
express money order
bank money order
postal money order
telegraphic money order
The Federal (a) System supervises and regulates member banks and helps
banks serve the public efficiently.
A user-owned, not-for-profit cooperative financial institution is called a(n) (a)
union.
The Federal Deposit (a) Corporation protects depositors’ money in case of the
failure of a bank or financial institution it regulates.
Electronic funds (a) refers to the use of computers and other technology for
banking activities.
When customers ask banks to manage investments on their behalf, the money or property that is turned
over for the bank to manage is said to be held in (a) .
A(n) (a) is written evidence that you received payment or that you transferred
your right of receiving payment to someone else.
Checks that have not yet been deducted from your bank statement balance are called
(a) checks.
In a point-of- (a) transaction, a merchant accepts a debit card to pay for
purchases.
A(n) (a) makes loans based on the value of some tangible object, such as
jewelry or other valuable items.
Commercial banks are often called (a) -service banks because they offer a
wide range of financial services.
