Banking

Which type of check endorsement begins with "For deposit only to account No. 123456........."?

• blank

• special/full

• transfer

• restrictive

Which type of check endorsement would consist of an individual's signature only.

• blank

• restrictive

• special/full

When writing a check, it is a good idea to use

• pencil

• erasable pen

• blue or black ink pen

• red pen

Another name for an overdraft fee is non-sufficient funds.

• true

• false

The drawer is the person writing check.

• True

• False

The payee is the financial institution the check is written on.

• True

• False

Which of the following insures checking accounts at both a bank and a credit union? (you must choose more than one) HINT: there are two correct answers

• NCUA

• FDIC

• FTIC

• NAACP

The only time you need to sign a deposit slip is when you are getting cash back after a deposit.

• True

• False

Which part of the check is the least important?

• memo line

• signature line

• routing numbers

• check number

You are opening a savings account that earns compound interest. Which compounding frequency will earn you the MOST money?

• Compounding 1 time per year

• Compounding quarterly

• Compounding monthly

• Compouding daily