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WorksheetsPF - Ch. 5 Banking Review
Total questions: 15
Worksheet time: 8mins
What is a check written by a bank on its own funds called?
certified check
cashier's check
stop payment order
money order
Checks over ______ old may not be honored by a bank.
4 weeks
2 weeks
6 months
3 months
A ______ endorsement results when the payee signs over a check to a third person.
blank
joint
special
restrictive
A _______ endorsement results when the payee signs on the back "For Deposit Only" and signs his / her name.
special
blank
joint
restrictive
A(n) _______ is a banking service in which a customer deposits money and writes checks to withdraw at his / her convenience.
stop payment order
checking account
money order
savings account
A(n) _______ occurs when a depositor writes a check on an account that is insufficient to cover a check.
debit
overdraft
stop payment
The person to whom a check is made payable is called the ___.
payor
payee
parent
co-signer
A(n) ____ is the record of checks written and deposits made in a checking account, kept by the depositor.
log
check
reconciliation
checkbook register
A(n) ____ is sent by the bank regularly, listing checks and deposits processed by the bank, as well as charges and credits to an account. These can be found in you bank account online now also.
list
bank statement
check
checkbook reconciliation
_____ cards provide immediate deductions from your checking account when you make a purchase.
Debit
Bridge
Savings
Credit
A check drawn against the bank's own funds is a ______
floating check
bounced check
certified check
cashier's check
The process of matching your checkbook register with the bank statement is called _____.
reconciliation
balancing
double checking
An endorsement signing a check over to a third person is a ______.
joint endorsement
restrictive endorsement
blank endorsement
special endorsement
Financial institutions usually do not charge a fee for checking account services.
True
False
To open an account, either checking or savings, you first must fill out and sign a signature authorization form.
True
False
