Depository Institutions Review #2

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The term that describes business that offers and sells financial services to people is a:

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depository institution

Front

Services provided by depository institutions include: Certificates of Deposit, Savings accounts, Financial Advising, Retirement Accounts, all of these things

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all of these things

Front

Examples of depository institutions include: credit unions, First Bank, Union Planters Bank, Bloomsdale Bank, All of these

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All of these

Front

A checking account allows for: easy access to money to pay bills, check writing to transfer money, use of debit cards and ATMs

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all of these

Front

What is commonly found on a signature authorization card?

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your name, your address and phone number, your social security number, your signature

Front

If you write checks without enough money in the account to pay for the checks, it is called what?

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overdraft or "bouncing" a check

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A debit card is linked to your checking account and: requires a PIN for many transactions, the money spent immediately comes out of your checking account, allows for easy access to your funds

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all of these

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Some checking accounts pay interest and can earn money on your money

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true

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Money in a depository institution account is safer because:

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it is insured and someone would need identification to get your money.

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Some ATMs charge fees when you use them

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true