BANKING review for W!SE Financial Literacy Test

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Last updated 5:48 PM on 6/7/26
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9 Terms

1
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Bounced check

a check written for an amount more than in your account

<p>a check written for an amount more than in your account</p>
2
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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.

<p>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.</p>
3
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credit union

A nonprofit financial institution that is owned by its members and organized for their benefit.

<p>A nonprofit financial institution that is owned by its members and organized for their benefit.</p>
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Commercial Bank

a for-profit institution that offers a full range of financial services

<p>a for-profit institution that offers a full range of financial services</p>
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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.

<p>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.</p>
6
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Reconcile

Make your bank records compatible with your bank statements.

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safe deposit box

a small, secure storage compartment that you can rent in a bank, usually for $100 a year or less.

<p>a small, secure storage compartment that you can rent in a bank, usually for $100 a year or less.</p>
8
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Brokerage

a firm that provides you access to the stock markets

9
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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.