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BANKING For W!SE Financial Literacy Exam With Correct Answers
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BANKING For W!SE Financial Literacy Exam With Correct Answers
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BANKING For W!SE Financial LiteracyExam With Correct Answers
Bounced check - Correct Answer - a check written for an amount more than in your account
Cashier's Check - Correct Answer - A check issued by a bank and sold to you for personal payments to
people who won't accept a personal check. It certifies that you have the money available.
credit union - Correct Answer - A nonprofit financial institution that is owned by its members and
organized for their benefit.
Commercial Bank - Correct Answer - a for-profit institution that offers a full range of financial services
Money Order - Correct Answer - A form of check payment on which the financial institution prints the
exact amount covered. Often used by people who do not have a checking account.
Reconcile - Correct Answer - Make your bank records compatible with your bank statements.
safe deposit box - Correct Answer - a small, secure storage compartment that you can rent in a bank,
usually for $100 a year or less.
Brokerage - Correct Answer - a firm that provides you access to the stock markets
U.S. Savings Bond - Correct Answer - Obtainable through the U.S. government. Purchased at one-half
the face value and will mature to full face value over a specified period of time. FDIC insured, moderate
liquidity, moderate rate of return.
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