Personal Finance Exam Review 5

Test Description: Final exam review

Instructions: Answer all questions to get your test result.

1) The person who cases a check is called the

2) When a check is returned to the payee'

3) When you open a checking account, most banks will require you to have an initial deposit of at least

4) Which part of a check provides a place for you to write the purpose of the check?

5) Darren writes a check to the phone company for $45.60. He should record this amount in his checkbook register in the

6) A check is written to Taylor Thomas. On the back of the check, Taylor writes 'Pay to the order of Rose Dryer,' then signs her name. What kind of endorsement is this?

7) An interest-bearing checking account that pays a higher rate of interest than a usual account, but typically has more restrictions, is called a

8) A check written by a bank on its own funds own funds is called a

9) A request that a bank not honor a specific check is called a(n)

10) A person or instituation that manages property for the benefit of someone else under a special agreement is called a(n)

11) Which of the following would be considered a long-term need?

12) A typical down payment for a house is about ____ percent of the purchase price.

13) Government student loans

14) Work-study programs allow students to earn money by working

15) Interest paid on the original principal plus accumulated interest is called

16) The widest variety of banking services is provided at a

17) Which of the following is organized primarily to lend money for home mortgages?

18) Savings and checking accounts at a credit union are usually called

19) Savings accounts protected by the FDIC are protected from loss for up to

20) You can authorize your employer to make automatic deductions from your paycheck each period with a(n)


*select an answer for all questions

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