Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
POB 4.02 - Financial Institutions
Test Description: Selecting a financial institution.
Instructions: Answer all questions to get your test result.
1) Direct Finance Company's primary function is to use its own money instead of customers' savings to provide loans to other businesses. This is an example of which type of financial institution?
A
Pawnshop
B
Check-cashing outlet
C
Non-depository
D
Depository
2) Southern Life Insurance Company makes money on selling specific services such as policies instead of retaining their customers money. This is an example of which type of financial institution?
A
Pawnshop
B
Check-cashing outlet
C
Depository
D
Non-depository
3) Sarah purchased school supplies with a store gift card of $300. This is an example of which type of payment service?
A
Certified check
B
Money Order
C
Cashier's check
D
Electronic
4) Phil is writing a company check and just completed writing the amount of the check in words. What should Phil do NEXT?
A
Sign the check
B
Write the payee's name
C
Write in the numerical amount of the check
D
Write in the purpose of the check
5) Maria prefers an endorsement that will make sure checks are used for deposits only to her business account. Which type of endorsement is preferred?
A
Full endorsement
B
No endorsement
C
Blank endorsement
D
Restrictive endorsement
6) Todd gave Intrek Computer Services a personal check for which his bank guaranteed payment. This is an example of which type of payment service?
A
Electronic
B
Money Order
C
Traveler's Check
D
Certified check
7) Jennifer prefers a financial institution that will meet her business needs such as access to checking options, credit cards, and loans. Which characteristic(s) of financial institutions does she prefer?
A
Safety
B
Fees and charges
C
Restrictions
D
Services
8) The Federal Reserve System approved the merger of Wachovia Bank and Wells Fargo Bank. This is an example of which service of the Federal Reserve System?
A
Participating in open market activities
B
Acting as a clearinghouse
C
Approving bank mergers
D
Managing the discount rate
9) Mary is writing a company check, and has just completed writing the purpose of the check. What should she do NEXT?
A
Sign the check
B
Write in the purpose of the check
C
Write the payee's name
D
Write in the numerical amount of the check
10) James received a $100 check. He wants to endorse this check over to Steve. Which type of endorsement should James use?
A
Full
B
Restrictive
C
Blank
D
Non-endorsement
11) Which is the FIRST step in opening a checking account?
A
Receiving the first cancelled check
B
Completing a bank reconciliation
C
Ordering a set of checks
D
Completing a signature card
12) Which is the FIRST step in the check writing process?
A
Writing the appropriate information in the check register
B
Writing the drawer's signature
C
Writing the payee's name
D
Writing the purpose of the check
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?