1. PRE- TEST #1 What is the function of the Federal Reserve System?

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13. Answer: To supervise and regulate member banks and to help banks serve the public efficiently

14. PRE- TEST #2 What does a commercial bank offer?

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26. Answer: Commercial banks offer checking accounts, provide savings accounts, make loans to individuals and businesses, and other services

28. PRE- TEST #3 What is a credit union?

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40. Answer: A user-owned, non-profit cooperative financial institution

41. PRE- TEST #4 What is a service charge?

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53. Answer: A fee a bank charges for handling a checking account

54. PRE- TEST #5 What is a debit card?

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66. Answer: A debit card is used for ATM transactions, taking money from your account

67. PRE- TEST #6 What is a check register?

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79. Answer: A separate book, usually the same size as a check book, which is used for recording account activities

80. PRE- TEST #7 What is a Stop Payment Order?

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92. Answer: A written notice that tells the bank not to pay a certain check