POB 4.02 Review

Beschreibung

High School Principles of Business Quiz am POB 4.02 Review, erstellt von Tara McDonald am 10/02/2017.
Tara McDonald
Quiz von Tara McDonald, aktualisiert more than 1 year ago
Tara McDonald
Erstellt von Tara McDonald vor mehr als 7 Jahre
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Zusammenfassung der Ressource

Frage 1

Frage
When Travante compared his bank statement with his check register, he found checks that were recorded in his check register, but not on the bank statement. What is the name for these checks?
Antworten
  • Outstanding checks
  • Canceled checks
  • Insufficient checks
  • Bounced checks

Frage 2

Frage
There is a new bank in town and Carlotta was interested in the services it offered, but she discovered that this bank has very few branches in the area where she travels frequently on business. She will not use this bank because of what characteristic of financial institutions?
Antworten
  • Fees and Charges
  • Services
  • Convenience
  • Safety

Frage 3

Frage
After endorsing her check with her name only, Jasper lost the check. She is concerned that someone else might cash it. What type of endorsement did she use?
Antworten
  • Full/Special
  • Check register
  • Blank
  • Restrictive

Frage 4

Frage
LaDarius pays his monthly rent by check each month. Before he writes the check, he always:
Antworten
  • Takes money from the ATM
  • Records information in the check register
  • Calls the bank
  • Signs his name on the check

Frage 5

Frage
Each time Bryson receives a check they immediately stamp it on the back with an endorsement that limits the use of the check to only being deposited in Bryson’s account. What type of endorsement is this?
Antworten
  • Full/Special
  • Restrictive
  • Blank
  • Solid

Frage 6

Frage
Each month when Travante receives his bank statement, he brings his check register into agreement with his bank statement. What is this process called?
Antworten
  • Bank reconciliation
  • Recording checks
  • Opening an account
  • Summary of accounts

Frage 7

Frage
Mason works for the state and uses the financial institution that is owned by state workers and serves its members only. The interest rates on loans are usually better there. This is an example of what type of financial institution?
Antworten
  • Investment company
  • Commercial bank
  • Credit Union
  • Consumer finance company

Frage 8

Frage
Phil is writing a company check and just completed writing the amount of the check in words. What should Phil do NEXT?
Antworten
  • Write the payee’s name
  • Sign the check
  • Write in the numerical amount of the check
  • Write in the purpose of the check

Frage 9

Frage
Which number is Figure A refers to the check number?
Antworten
  • 1
  • 6
  • 8
  • 9

Frage 10

Frage
Which number in Figure A refers to the drawer’s account number?
Antworten
  • 1
  • 7
  • 8
  • 9

Frage 11

Frage
Deshun'to wants to open up a savings account at a local financial institution that accepts deposits and pays him interest on the account. Which type of financial institution will Deshun'to use?
Antworten
  • Depository
  • Non-depository
  • Traveler's Check
  • Money order

Frage 12

Frage
Lineasa needs cash quick and doesn't have a bank account at a local bank. She wants to sell her gold necklace for cash fast. What type of financial institution will Lineasa use?
Antworten
  • Depository
  • Non-depository
  • Check cashing outlet
  • Mortgage company

Frage 13

Frage
Matthew goes to a check cashing outlet to cash his checks and file his income tax. This is an example of which type of financial institution?
Antworten
  • Depository
  • Non-depository
  • Mortgage company
  • Pawn shop

Frage 14

Frage
Joshua wants his business to choose a financial institution based on whether or not it offers savings, checking, loans, credit cards, etc. This is an example of which characteristic of financial institutions?
Antworten
  • Fees
  • Restrictions
  • Services
  • Safety and security

Frage 15

Frage
Malak pays her monthly rent by check each month. Before she writes the check, she always:
Antworten
  • Fills in the appropriate information into her check register
  • Signs the bottom
  • Calls the bank
  • Withdraws money from her account

Frage 16

Frage
When Shyreak opened a checking account at Wells Fargo, these two things were required:
Antworten
  • Signature card and a withdrawal slip
  • A check to deposit and a savings account
  • Signature card and a check to deposit
  • A bank statement and a check register

Frage 17

Frage
Kerry received a letter in the mail from his bank notifying him that two of his checks had bounced and that they charged him $55 for the two checks. The acronym NSF was in the letter. What was the bank communicating to Sam with stating NSF?
Antworten
  • That he had enough money in his account
  • They were going to close the account
  • He didn't have enough money in his account to cover the check
  • They were depositing the money into his account

Frage 18

Frage
When Shyheim received his bank statement in the mail, he noticed that he had forgotten to record a $40 ATM withdrawal into his check register from two weeks ago. What does Shyheim need to do in his check register if his balance states that he has $84 in his account?
Antworten
  • He needs to add $40 to his balance in his check register.
  • He needs to subtract $40 from his balance in his check register.
  • He needs to add $40 to his balance on his bank statement.
  • He needs to subtract $40 from his balance on his bank statement.

Frage 19

Frage
How many Federal Reserve Locations are there in the U.S.?
Antworten
  • 15
  • 10
  • 11
  • 12

Frage 20

Frage
What is the centralized banking system (the bank’s bank) of the United States?
Antworten
  • World Trade Organization
  • International Monetary Fund
  • The Federal Reserve System
  • State Employees' Credit Union

Frage 21

Frage
The Federal Reserve System supplies money to the monetary system by putting $400 billion dollars into the monetary system. What service is the FED providing?
Antworten
  • Supervising banks
  • Approving bank mergers
  • Participating in open market activities
  • Managing the discount rate

Frage 22

Frage
The Federal Reserve System just announced that it was increasing its interest rate charged to banks to 2.25%. Banks borrow money from the Federal Reserve System to loan to customers. What service is the FED providing?
Antworten
  • Approving bank mergers
  • Participating in the open market
  • Holding reserves
  • Managing the discount rate
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