Personal Finance--Chapter 5

A system that ensures that money you deposited in the account is available for withdrawal is

The signature of a payee on the back of a check

To earn higher interest rates on CDs, you must accept all of the following except

Receiving a higher interest rate on a CD and losing liquidity is an example of 

Another name for a regular savings account is a

How much interest is earned by depositing $200 at 4% interest for 2 years compounded daily?

A personal check with a guaranteed payment is a

All of the following may show up on a bank statement EXCEPT

Prepaid cards are also known as 

Depositing a paycheck directly into a designated bank account is known as

The Federal Deposit Insurance Corporation insures depositors from losing their money because

A request to a bank to not cash a particular check is a 

Mortgage companies only loan money 

You give up liquidity when you

The amount of interest that a financial institution would pay on a $100 deposit for one year

Credit cards allow you to

Savings plan in which money deposited for a stated period of time earn a specific interest rate

Compared with commercial banks, credit unions generally offer

A for-profit institution that offers a full range of financial services

A personal check should be signed

A nonprofit financial institution that is owned by members and organized for their benefit

A card that allows you to withdraw money or make purchases directly from your account

An account will pay more interest if the interest is compounded

The person to whom a check is written to is known as the

When writing a check, include all of the following EXCEPT

A savings account in which the interest rate varies as market rates change

The use of a debit card to purchase an item or service at a retail store

If a debit/credit card is stolen and the owner reports it immediately, the owner is responsible

Which of the following financial services is best for saving money over a period of years?

The process in which interest is earned on the principal and any previously earned interest