May 1, 2006 in Banking

If you think you’ve mastered the material in this chapter, take our quiz. After you click the ”submit” button, the answers will appear below.

  1. If you deposit a check drawn from a bank down the road into the ATM at your local bank, what’s the latest your funds could be available?

    By the second business day after the day that the funds were deposited.
    Up to five business days after the date of the deposit.
    The day the check is deposited.
  2. True or false: When making a major purchase, use a debit card.

    True
    False
  3. Speaking of protections, is it true or false that under the Electronic Fund Transfer Act you are liable for up to $5,000 if your debit card is stolen?

    True
    False
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