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Personal Financial Literacy: Chapter 5 - The Banking System

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1.
1 point
_____ interest is earned on both principal and previously earned interest.
2.
1 point
Many people rent a(n) _____, which is a secure container located in a bank vault, to store important documents and valuable jewelry.
3.
1 point
Banks will hold postdated checks and process them at a future date.
4.
1 point
When you purchase a savings bond, you are loaning money to the government.
5.
1 point
The words "Pay to the order of" are included in which type of endorsement?
6.
1 point
You should complete the register entry for a check before writing the check.
7.
1 point
Debit cards carry all the same protections provided with credit cards.
8.
1 point
A(n) _____ is a tool used to track checking account transactions and keep a running balance of your account.
9.
1 point
A _____ endorsement consists of only the payee's signature.
10.
1 point
You may be charged fees for a lack of activity in your bank account.
11.
1 point
With a full endorsement, anyone who finds the endorsed check can cash it.
12.
1 point
Which of the following would NOT be an adjustment to the checkbook register balance on a bank reconciliation?
13.
1 point
_____ is the act of signing another person's name on a check.
14.
1 point
Forgery occurs when someone alters a check by changing its amount to obtain more money from another person's account.
15.
1 point
Checks written that have not been processed by the bank are called _____ checks.
16.
1 point
A checking account is also called a demand deposit account because the account holder may withdraw money on demand or write checks on the account at any time.
17.
1 point
Which of the following is NOT a demand deposit in a bank?
18.
1 point
Which of the following is the most liquid?
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