BPA – BANKING AND FINANCE PRACTICE TEST

BPA – BANKING AND FINANCE PRACTICE TEST


Bouncing a Check - ANSWER dishonored check- writing a check and not
having the funds in the account

Negotionable instruments - ANSWER A written order promising to pay a sum
of money ex. Checks, bank drafts, cashier's checks, certified checks

overdraft protection - ANSWER an automatic loan made to an account if the
balance will not cover checks written

People use a bank reconciliation report to - ANSWER balance their checkbook

blank endorsement - ANSWER

restrictive endorsement - ANSWER

full endorsement - ANSWER

Person who writes the check - ANSWER drawer

Person who is receiving the check - ANSWER payee

Is you make a mistake writing a check write - ANSWER VOID

People should endorse checks in the presence of a - ANSWER teller

To balance a checkbook - ANSWER Subtract outstanding checks from the
bank balance

Bank Tellers are expected to - ANSWER Balance their cash drawers, provide
money and coins to customers, and sell bank products (ex. CDs, and savings
bonds)

For a bank, deposits are - ANSWER liabilities

For a bank, loans are - ANSWER assets