The United States is divided into 10 Federal Reserve districts, with a central Federal Reserve Bank in each district.

An ‘Outstanding Check’ is a check that is written for more than the amount in the account from which it is being drawn.     

Credit unions are regulated by the National Credit Union Administration (NCUA), a federal agency similar to the FDIC.

A NOW Account can be viewed either as a savings account on which checks can be written or a checking account that earns interest; the number of checks written during a certain period of time (usually a month) is generally limited; it does pay interest, but not as much as a regular savings account.

When writing a check, you should only use one ‘and’, between the dollars and cents, when writing out the amount of the check.

When depositing money in your account at your bank, you should always use a deposit slip (even if the bank doesn’t require it).

A check that has been changed by someone other than the owner of the check is known as a overdrawn check.

A check that a bank writes when drawing on it’s fund in another bank is known as a cashiers check.

EFT is an acronym for Electronic Financial Transfer.

The main advantage of traveler’s checks is that they are safer than cash due to the requirement of having to be signed twice, once when purchased and once when used.

If you are a member of the American Automobile Association (AAA), you only have to pay 1% of the total value of the travelers checks to purchase them.

There is a now prepaid electronic version of traveler’s checks that works like a prepaid gift card; it can be used at most ATMs and like a credit card.

401(k) accounts differ from IRAs in that employers quite often also contribute to the 401(k) account where only the holder of an IRA account normally contributes to the account.

Bonds are basically loans to corporations and governments.

Generally, you do not pay income tax on the interest earned on municipal bonds.

Minors may own U.S. Savings Bonds with no stipulations or restrictions. They may get online and buy one without any additional information other than a credit card number or bank account number.

You must have a social security number or some other form of government identification to own a U.S. Savings Bond.

An investment that can be turned into cash quickly is known as a ......

The sum of the daily balances divided by the number of days in the month for a specified account is the definition for....

Which is NOT a type of endorsement that you might use on a check?

A personal check on which the bank has placed it’s written guarantee that it will be paid is known as a....

Which of the following would NOT be found a bank statement?

Which type of money order is the most expensive to get?

‘IRA’ stands for......

Penalties are assessed if withdrawals are made from your IRA before you reach the age of ___________ unless you incur a permanent disability and need the money.

A printed certificate with a promise to pay a definite amount of money at a stated interest rate on a specified maturity date is the basic definition for:

Which is U.S. Savings Bond is no longer issued?

The abbreviation ‘S&L’ refers to what in the banking industry?
Type your answer in the following format capitalizing appropriately:
_________ ___ _________

All federal banks must be part of what federal regulatory organization? (your answer is an acronym and should be in all CAPS).  ____________

Capable of meeting financial obligations is the definition for what term? (spelling counts!!) ________________

What organization (acronym only - all CAPS) insures your money if it is kept in a Savings and Loan? (used to be SAIF)  ____________

The amount paid for the use of money is the definition for.....    _________________

To open a savings account, you must sign a _______  ________, deposit at least $1, and you will receive either a savings account passbook or a savings account register.

What does ‘APR’ stand for? (spelling counts)

__________________  ________________  ____________________

The two main types of checking accounts are interest-bearing and ____________. (single word answer; spelling counts.

If you have two or more people on a bank account, it is called a _________ account. (single word answer; spelling counts)

The numbers at the bottom of a check which include the account number and the routing number of the bank, and that are printed in magnetic ink are known as the _______ numbers. (the answer is an acronym; all CAPS; spelling counts)

Which type of money order is limited to $1,000? (no capitalization; spelling counts)

________________

The amount being borrowed by the seller of the bond is known as _______  _________. (no capitalization; two words; spelling counts)

For 10 years after the attacks that occurred on September 11, 2001, U.S. Series ____ bonds were also referred to as ‘Patriot Bonds’. (capitalize your answer)