Wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Chapter 17 Test Review

Total questions: 20

Worksheet time: 12mins

Name
Class
Date
1.

All state and national banks are required to join the Federal Reserve System.

a)

True

b)

False

2.

The most common way for a bank to be organized is as a mutual savings bank.

a)

True

b)

False

3.

Not even the bank has the right to open your safe deposit box

a)

True

b)

False

4.

If you lose your debit card, your liability for unauthorized use is only $50 if you notify your financial institution within two days of the loss.

a)

True

b)

False

5.

A blank endorsement makes a check payable to anyone who has the check.

a)

True

b)

False

6.

The paying of checks among different banks in different cities is called

a)

kiting

b)

clearing

c)

bouncing

d)

reserving

7.

Mutual savings banks are organized mainly for

a)

business loans

b)

automobile loans

c)

savings and home loans

d)

check cashing

8.

Except for some retirement accounts, the FDIC insures all accounts in the same name at each bank up to an amount of

a)

$2,500

b)

$2,500,000

c)

$250,000

d)

$25,000

9.

Alexi is looking for a new bank. He is most concerned with finding a bank that offers 24-hour banking services. He is mostly concerned with

a)

restrictions

b)

convenience

c)

fees

d)

safety

10.

Bonita writes many checks each month. Which type of checking account is probably the best choice for her?

a)

interest-earned checking account

b)

special checking account

c)

regular checking account

d)

activity checking account

11.

Typical electronic banking services allow customers to do all of the following EXCEPT

a)

obtain cash

b)

transfer funds from savings to checking

c)

pay bills online

d)

print new checks

12.

With ____________________, the bank deducts payments from your account and transfers them to the appropriate companies.

a)

credit cards

b)

automatic bill payment

c)

direct deposit

d)

automatic teller machines

13.

When you put money into your checking account, you will fill out a

a)

check stub

b)

deposit slip

c)

check register

d)

signature card

14.

The person to whom a check is written is the

a)

payee

b)

drawee

c)

endorser

d)

drawer

15.

A personal check for which a bank has guaranteed payment is called a

a)

traveler's check

b)

certified check

c)

cashier's check

d)

banker's check

16.

This type of money order is typically issued by travel agencies, supermarkets, pharmacies, and convenience stores.

a)

telegraphic money order

b)

bank money order

c)

postal money order

d)

express money order

17.

Commercial banks are often called   (a)     -service banks because they offer a wide range of financial services.

18.

A user-owned, not-for-profit cooperative financial institution is called a(n)   (a)     union.

19.

The Federal Deposit   (a)     Corporation protects depositors’ money in case of the failure of a bank or financial institution it regulates.

20.

A(n)   (a)     is written evidence that you received payment or that you transferred your right of receiving payment to someone else.