WorksheetsChapter 17 Test Review
Total questions: 20
Worksheet time: 12mins
All state and national banks are required to join the Federal Reserve System.
True
False
The most common way for a bank to be organized is as a mutual savings bank.
True
False
Not even the bank has the right to open your safe deposit box
True
False
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.
True
False
A blank endorsement makes a check payable to anyone who has the check.
True
False
The paying of checks among different banks in different cities is called
kiting
clearing
bouncing
reserving
Mutual savings banks are organized mainly for
business loans
automobile loans
savings and home loans
check cashing
Except for some retirement accounts, the FDIC insures all accounts in the same name at each bank up to an amount of
$2,500
$2,500,000
$250,000
$25,000
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
restrictions
convenience
fees
safety
Bonita writes many checks each month. Which type of checking account is probably the best choice for her?
interest-earned checking account
special checking account
regular checking account
activity checking account
Typical electronic banking services allow customers to do all of the following EXCEPT
obtain cash
transfer funds from savings to checking
pay bills online
print new checks
With ____________________, the bank deducts payments from your account and transfers them to the appropriate companies.
credit cards
automatic bill payment
direct deposit
automatic teller machines
When you put money into your checking account, you will fill out a
check stub
deposit slip
check register
signature card
The person to whom a check is written is the
payee
drawee
endorser
drawer
A personal check for which a bank has guaranteed payment is called a
traveler's check
certified check
cashier's check
banker's check
This type of money order is typically issued by travel agencies, supermarkets, pharmacies, and convenience stores.
telegraphic money order
bank money order
postal money order
express money order
Commercial banks are often called (a) -service banks because they offer a wide range of financial services.
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.
A(n) (a) is written evidence that you received payment or that you transferred your right of receiving payment to someone else.
