module 1 Flashcards

1
Q

funds entrusted by a depositor to a bank for safekeeping

A

bank account

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2
Q

types of bank accounts

A
  • savings
  • current or checking account
  • time deposit or term deposit
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3
Q

earns modest interest rate and intended to encourage savings

A

savings account

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4
Q

normally evidenced by a passbook

A

savings account

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5
Q

savings account are evidenced by?

A

passbook

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6
Q

show deposits and withdrawals in saving account

A

passbook

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7
Q

depositor may receive an automatic teller machine

A

savings account

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8
Q

can be use as debit card

A

atm of savings account

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9
Q

can pay for items by swiping the card and just like a credit card

A

debit card

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10
Q

bank account where depositor can write checks

A

current or checking account

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11
Q

an investment that orders a bank (drawee) to pay the person named on the check or bearer thereof (payee) a definite amount of money from the drawer’s bank acc

A

check

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12
Q

a book containing preprinted blank checks

A

check book

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13
Q

who receives check book

A

depositor

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14
Q

refer to an interest-bearing fund maintained at a bank for a fixed period of time

A

time deposit / term deposit

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15
Q

similar to savings account but earns higher interest

A

time deposit / term deposit

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16
Q

denominated in fixed amounts and cannot be withdrawn until maturity date

A

time deposit/ term deposit

17
Q

time / term deposit is evidenced by

A

certificate of time deposit

18
Q

used to take out money or to put in money to the depositor

A

preparation of bank deposit and withdrawal slip

19
Q

parts of the check

A

drawer
payee
drawee
date

20
Q

the one writing the check

A

drawer

21
Q

owner of the money

A

drawer

22
Q

drawer’s signature appear on the

A

front

23
Q

instructs the drawee to pay the payee the amount stated on the check

A

drawer

24
Q

entitled to payment from the drawee

A

payee

25
Q

named on the check, bearer thereof

A

payee

26
Q

the one who receives the money

A

payee

27
Q

the bank in which the drawer’s bank acc is maintained

A

drawee

27
Q

the one who release money

A

drawee

28
Q

cases of date

A

antedated
postdated

29
Q

dated earlier

A

antedated

30
Q

later date

A

postdated

31
Q

what do you call the check that not been encash for period of 6 months or longer

A

stale check

32
Q

signature of payee i son the

A

back

33
Q

report issued by the bank

A

bank statement

34
Q
A