question

A check must be written as payable to the

answer

Payee.

question

The person who sign a check is the

answer

Drawer .

question

Which form of payment can be purchased for face value plus a fee from a bank, convenience store, or other location and must be signed by the purchaser

answer

Moner Order.

question

A check that is so old when presented for payment that is no longer valid is called?

answer

Stale check.

question

A check that is not considered negotiable but can be converted into a negotiable instrument or cash is a ______ ?

answer

Warant.

question

Regular withdrawal of funds from one account and transferring them to another account, in special amiunts, at specified times is known as ________ ?

answer

Automatic Funds Transfer.

question

A computerized system that enables funds to be debited, credited, or transferred is known as _________ ?

answer

Electronic Funds Transfering System.

question

When an account holder has given the bank permission to transfer funds monthly to pay bills as a substitude for check writing, is referred to as _________ ________ ________ ?

answer

Automatic Bill Paying.

question

What is the name for a check that has been created from a digital image of the original?

answer

Electronic Check.

question

On the back of a check or money order, the payee must write his or her name as it appears on the front. This is referred to as _________ ?

answer

Endorsement.

question

The most common way of endorsing a check is when the payee simply sign his or her name on the back of the check, this is known as a ________ __________ ?

answer

Blank Endorsement.

question

Which type of endosement is used on a check that is to be transferred to another person or business _________ __________ ?

answer

Full Endorsement.

question

When choosing a PIN for used with a bank account, be sure to ______________________________________ ?

answer

Memorize it so it is not written for someone to see.

question

When deposit are made, they are added to the balance of or bank account, or __________ ?

answer

Credit.

question

When chekc are written or other withdrawals are made, they are suctracted from the bank balance or ___________ ?

answer

Debited.

question

On a monthly basis, to ensure accuracy of the bank balance, the bank statement should be ____________ ?

answer

Reconciled.

question

Many bank do not accept _________ __________ ________ ?

answer

Third Party Checks.

question

List Three facts about bank transactions and financial documents?

answer

1) Involve Privilege information. 2) Involve confidential information. 3) Should be kept and lock in files.

question

A check stub can also be used as a ________ _______ ?

answer

Check register.

question

Businesses are more vulnerable to check fraud on _________ __________ __________ ?

answer

Friday afternoon and weekends.

question

When using bank by mail, always use ___________ __________ ?

answer

Restricted Endorsement

question

When using an after-h0urs deposit feature, when is the money deposited into the account __________ __________ ?

answer

Following morning.

question

Patients who do not have a bank account may pay the physician using a special card that has money preloaded called a _________ ________ ?

answer

Prepaid Cards.

question

A machine that imprints figures on a check so that they cannot be changed is called a _________ _________ _________ ?

answer

Check writer machine.

question

When reconciling a bank statement and the statement balance and checkbook balance do not agree, what do you divide the difference by to find the transposition error __ ?

answer

Nine.

question

Define ABA number ?

answer

Bank Identification # that is printed on check.

question

Define Automated teller machine?

answer

Public computer terminal use for banking transactions.

question

Define Bank statement?

answer

Monthly itemization of all transaction on a checking or saving account.

question

Define Deposit?

answer

Funds added to a bank account.

question

Define Endorsement?

answer

payee signature of the back of the check.

question

Define Check?

answer

Written order to pay funds from a personal or business bank account.

question

Define Credit?

answer

Money deposited to a bank account.

question

Define Currency?

answer

Paper bills and coins in circulation.

question

Define Debit?

answer

Money withdrawn from a bank account.

question

What is Electronic funds transfer system?

answer

Method of transfering funds using computer.

question

Define Forgery?

answer

Fraudulent signature of instrument.

question

Define Limited Check?

answer

Check that is void if written over certain amount.

question

Define Overdraft?

answer

Charge against on account in access available funds.

question

Define Payee?

answer

Recipent of the amount shown on a check

question

Define Payer?

answer

Party responsible payment check amount.

question

Define Reconciliation?

answer

Verifying account balance by comparing bank statement to transaction records.

question

Define Savings account?

answer

Interest bearing account.

question

Define Service charge?

answer

Bank fee for processing transactions and account maintenance.

question

Define Withdrawal?

answer

Removal of funds.

question

A ________ check is drawn by a bank and signed by an authorized bank offical.

answer

Cashier.

question

A _________ customer's check may be presented to the bank for authentication and guarantee, making it a ___________ check.

answer

Certified.

question

A __________ check is avaliable at the bank for the depositor to withdraw funds from his or her own account.

answer

Counter.

question

__________ checks can be purchased to use in place of personal checks or cash in locations where personal checks may not be accepted and carrying large amount of cash is not desirable.

answer

Travelers.

question

A ___________ check is available in a variety of styles and includes either a stub or a way to keep a duplicate copy as a record of the transaction.

answer

Voucher.

question

________ ____ ________ is a system that can substitute for check writing in which bill payments are made by calling to authorize a tranfer of funds.

answer

Pay by phone.

question

A signature on the back of a check the must be present to deposit the check is the ______________ ?

answer

Endorsement.

question

A check is _____________ which meansit is legally transferable to another person or business.

answer

Negotiable.

question

A ____________ endorsement contains a phrase, such as "for deposit only" along the endorsers signature

answer

Restrictive.

question

Writen a check with the knowledge that there are not sifficient funds in the account to cover it is considered an intent to _____________ and is unlawful

answer

Defraud.

question

When preparing a bank __________ it is important to verify that each check or money order has been properly endorsed.

answer

Deposit.

question

ATM ___________ can occur when thieves use a portable card reading device to record data on a debit or credit cards magnatic strip.

answer

Skimming.

question

When each check is written, be sure to complete the __________ or stub attached to the check for proper record keeping.

answer

Vaucher.

question

A _________ ___________ mashine imprints the figures on a check so that they cannot be altered.

answer

Check writer.

question

___________ banking gives customers24/7 access to their bank accounts via the internet.

answer

Online.

question

Each month, a _________ ____________ is sent to checking account holders listing all transactions during the prior period and the ending balance.

answer

Bank statement.

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