Reference no: EM131453497
(1) An individual checking or savings account can be set up to go automatically to another person when the depositor dies if it is set up as a(n)
a. payable at death.
b. estate account.
c. obituarial account.
d. joint tenancy account.
(2) Diana and Kim are roommates in college and Diana owes Kim for last month's rent. When Diana receives a check from her mother for the rent, what type of endorsement should Diana use to sign this check over to Kim?
a. Trailing endorsement
b. Blank endorsement
c. Restrictive endorsement
d. Special endorsement
(3) A lifeline checking account is accurately described as an account that
a. always pays interest
b. can be accessed using a debit card.
c. assessed monthly fees depending on the maximum balance in the account.
d. assesses no charges for ATM transactions
(4) Which of the following sets NOW accounts apart from other checking accounts?
a. They pay interest.
b. They are time deposits.
c. They are safer.
d. They can be accessed by a debit card.
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