BANKING review for W!SE Financial Literacy Test Questions with Correct Solutions

Bounced check - a check written for an amount more than in your account Cashier's Check - 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 - A nonprofit financial institution that is owned by its members and organized for their benefit. Commercial Bank - a for-profit institution that offers a full range of financial services Money Order - 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 - Make your bank records compatible with your bank statements. safe deposit box - a small, secure storage compartment that you can rent in a bank, usually for $100 a year or less. Brokerage - a firm that provides you access to the stock markets U.S. Savings Bond - 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.