Question
1- The purpose of a special endorsement is to: Multiple Choice cash a check. deposit a check. transfer a check to another person. withdraw cash
1-
The purpose of a "special endorsement" is to:
Multiple Choice
-
cash a check.
-
deposit a check.
-
transfer a check to another person.
-
withdraw cash from your account.
-
reduce the charge for service fees.
2-
Which is a true of investing in Series EE U.S. Savings Bonds?
Multiple Choice
-
The interest earned is always exempt from federal income taxes.
-
Federal income tax on earnings may be deferred until the bonds are redeemed.
-
The interest rate on these bonds is adjusted twice a year for inflation.
-
Series EE Bonds must be purchased for set amounts over $100.
-
They can be redeemed any time without forfeiting interest.
3-
A saver will usually receive higher earnings with which one of the following types of savings plans?
Multiple Choice
-
Certificate of deposit
-
Debit account
-
Regular savings account
-
Share account
-
Credit account
4-
What is the rate an individual will pay to borrow for the purchase of a new home called?
Multiple Choice
-
Prime rate
-
Discount rate
-
Mortgage rate
-
Treasury bond rate
-
Corporate bond rate
5-
When preparing a bank reconciliation, outstanding checks should be:
Multiple Choice
-
added to the bank statement balance.
-
subtracted from the bank statement balance.
-
added to the checkbook balance.
-
subtracted from the checkbook balance.
-
ignored until they have cleared.
6-
A regular savings account at a credit union is called a ____________ account.
Multiple Choice
-
share
-
NOW
-
club
-
certificate
-
money market
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