Finance and Marketing(Related)- chapter 17
The United States is divided in to how many federal reserve districts
12
You let the bank make the payment automatically
Automatic bill payment
An endorsement that consists of only the endorser's name
Blank endorsement
A check that a bank draws money on its own funds
Cashiers check
Refers to the paying of checks among different banks in different cities
Clearing
This is the most common way for bank to be organized
Commercial bank
When you use this card, you are borrowing money from the bank to pay later
Credit card
When you use this card you are using the money in your bank account
Debit card
When you put money into a checking account you fill out a...
Deposit slip
EFT is...
Electric Fonds transfer
A signature card is written Joyce that tells the back not to pay a certain check t or f
False
An interest earning checking account is probably the best choice for people who write only a few checks each months t or f
False
Only you or the bank had the right to open your safe deposit bank t or f
False
state banks may not join the federal reserve system t or f
False
To supervise and regulate banks
Federal reserve system
Banks only insures
First 100,000 dollars
An endorsement by allows you to transfer a check to another person
Full endorsement
Non deposit financial institutions
Life insurance company
A user owned not for profit cooperative financial institution
Mutual savings
A savings bank owned by and operated for the benefit of its depositors
Mutual savings bank
Checks that have not been deducted from a bank statement is...
Outstanding Checks
They make loans based on the value of jewelry or some valuable item
Pawnshops
Checking accounts and debit cards are examples of financial institution's
Payment service
A merchant accepts debit cards to pay for purchases with...
Point of sale transaction
What's not a good check writing habit
Postdate all checks
The part of money deposited by costumer that banks are required to deposit with the federal reserve system
Reserves
A fee a bank charges for handling a checking account
Services charge
A prepaid card for a phone service and other similar transaction
Stored value card
All banks have federal deposit insurance t or f
True
Savings and loans associations traditionally specialized in among loans for home mortgages t or f
True
Some web companies have created their own cyber ash or E money that serves as a medium of exchange for online transaction t or f
True
Sometimes two or more people have a checking account together called a joint account toe t or f
True
The owner of the account who signs the check is drawer t or f
True
When you buy something with a credit card you are borrowing money from the bank t or f
True
Money or other property that is turned over to a bank to manage for a costumer is said to be held in
Trust
Electric Fonds transfer is
Use of computer and other technology for banks
