Principles of Business 9e Chapter 17

A signature card is a written notice that tells the bank not to pay a certain check.

• True

• False

• It is a document for account opening

• It is a type of check

The part of the money deposited by customers that banks are required to deposit with the Federal Reserve System.

• reserves

• liabilities

• investments

• equity

A fee a bank charges for handling a checking account.

• service charge

• transaction fee

• maintenance fee

• overdraft fee

The owner of the account who signs the check is the drawer.

• True

• False

• The payee

• The bank

Sometimes two or more people have a checking account together, called a joint account.

• True

• False

• Only for married couples

• Only for business partners

Stored-value cards allow you to use money that is in your checking account.

• True

• False

• Only for online purchases

• Only for prepaid services

When you put money into a checking account, you fill out a

• withdrawal form

• deposit slip

• account statement

• transfer request

An endorsement that allows you to transfer a check to another person.

• full endorsement

• limited endorsement

• conditional endorsement

• blank endorsement

The United States is divided into ___ Federal Reserve districts, with a central Federal Reserve bank in each district.

• 10

• 12

• 15

• 8

Refers to the process of making payments among different banks.

• settlement

• clearing

• reconciliation

• transfer