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