WorksheetsSemester 2 Final Exam - Part 1
Total questions: 25
Worksheet time: 13mins
Name
Class
Date
1.
Social Responsibility
a)
means that individuals and companies have a duty to act in the best interests of the environment and society as a whole.
b)
empowers employees to leverage the corporate resources at their disposal to do good.
c)
boost employee morale and leads to greater productivity in the workforce
d)
All of the above
2.
The United States is divided into ____ Federal Reserve districts.
a)
4
b)
8
c)
12
d)
16
3.
What are the three part three parts to the federal reserve.
a)
Board of Governors
b)
Twelve Reserved Banks
c)
Federal Open Market Committee
d)
All of the above
4.
When year was the Federal Reserve begun
a)
1885
b)
1913
c)
1972
d)
2023
5.
Board of Governors has:
a)
Seven members
b)
13 members
c)
3 members
d)
None of the bove
6.
How many times does the Board of Governors meet with the 12 presidents of the reserved banks?
a)
8 times per year
b)
10 times per year
c)
400 times per year
d)
None of the above
7.
Role of the Reserved Bank include
a)
Provide Financial Services
b)
Contribute to montery policies
c)
Supervise Commercial banks
d)
All of the above
8.
A personal check with guaranteed payment is a
a)
cashier's check
b)
money order
c)
certified check
d)
traveler's check
9.
The first document that must be completed when opening a checking account is the
a)
deposit slip
b)
reconciliation statement
c)
check register
d)
signature card
10.
The Federal Deposit Insurance Corporation (FDIC) insures each account up to
a)
$50,000
b)
$100,000
c)
$250,000
d)
$1,000,000
11.
The financial institution most likely to charge the highest rate for a loan would be a
a)
bank
b)
pay day loan
c)
credit union
d)
mortgage company
12.
A device used for cash machine transactions is called a(n) _____.
a)
credit card
b)
debit card
c)
personal check
d)
certified check
13.
A fee a bank charges for handling a checking account is called a(n) _____.
a)
outstanding charge
b)
hidden fee
c)
service charge
d)
additional charge
14.
A report sent by the bank to a depositor showing the monthly status of his or her account is called ?
a)
a bank charge
b)
a commercial bank
c)
a stop payment order
d)
a bank statement
15.
The owner of the account who signs the check is called a(n) ______.
a)
payee
b)
drawee
c)
drawer
d)
payer
16.
All of the following are types of endorsements except:
a)
blank endorsement
b)
joint endorsement
c)
full endorsement
d)
restrictive endorsement
17.
A _____ check is one that is dated later than the date on which it is written.
a)
certified
b)
money order
c)
Postdated
d)
None of the above
18.
A separate form on which the depositor keeps a record of deposits and checks is called a(n) __.
a)
check statement
b)
check reconciliation
c)
check endorsement
d)
check register
19.
At the bottom of the check, the first set of zeros are the Account Number
a)
True
b)
False
20.
At the bottom the check, the second set of zeros are the bank routing Number
a)
True
b)
False
21.
The number 102 is the check number and represents the number of checks written on an account
a)
True
b)
False
22.
On the bottom line to the right you must print your name.
a)
True
b)
False
23.
A written notice telling the bank not to pay a certain check is called a(n) ____.
a)
temporary order
b)
stop payment order
c)
permanent order
d)
stop endorsement order
24.
A deferment allows you to:
a)
Cancel a debt
b)
Pay the bill at a later date
c)
ignore paying a bill
d)
None of the above
25.
To default on a loan means you did not pay the bill and you did not contact the lender. This will seriously damage your credit.
a)
True
b)
False
100 %
