19 multiple choice 5 points this is used to ensure your entire check gets deposited into your account. blank…

19 multiple choice 5 points this is used to ensure your entire check gets deposited into your account. blank endorsement restrictive endorsement special endorsement 20 true or false 5 points fdic and ncua will insure your savings accounts up to $300,000. true false

19 multiple choice 5 points this is used to ensure your entire check gets deposited into your account. blank endorsement restrictive endorsement special endorsement 20 true or false 5 points fdic and ncua will insure your savings accounts up to $300,000. true false

Answer

Brief Explanations:

  1. A restrictive endorsement is used to ensure the entire check is deposited into a specific account as it limits how the check can be negotiated. A blank endorsement makes the check payable to anyone who has it, and a special endorsement is used to transfer the check to a specific person or entity.
  2. As of 2023, the FDIC (Federal Deposit Insurance Corporation) and NCUA (National Credit Union Administration) insure savings accounts up to $250,000 per depositor, per insured institution, per ownership category, not $300,000.

Answer:

  1. B. Restrictive Endorsement
  2. B. False