- A certificate of deposit (CD) is a demand deposit that allows you to withdraw your money at any time without penalty.
- Inactive accounts do not have balances and are not charged monthly fees.
- The Federal Reserve System regularly examines financial institutions to ensure compliance with consumer protection laws.
- Floating a check is a common consumer practice that makes effective use of a checking account.
- An ATM card can be used to withdraw money from a checking account.
- The writer of a check is called the drawer.
- A written order to a bank to pay the stated amount to the person or business named ia a(n)
- You have invested $500 at 9% interest. According to the Rule of 72, how soon will the money double in value?
- A tool used to track checks, withdrawals, deposits, and fees for your checking account is a
- A type of check used to pay bills or make payments for which the money is guaranteed
- A card that caries an electronic balance is called a(n)
- a check issued against bank funds is called a
- A stored value card is a smart card, which is a credit card with a fixed rate of interest.
- A check written with a date that will occur in the future
- A restrictive endorsement transfers the right to cash a check to someone else.
- For how many years do most savings bonds earn interest?
- With a stop payment order, the bank is instructed not to honor a check you issued or lost.
- Which of the following can result in "bouncing" a check?
- A check that is not honored by a bank and is returned to the payee's bank due to nonsufficient funds
- An instruction to the bank not to honor a check that has been issued or lost