Security, Fraud, & Ethics
The act of creating a false document with the intent to defraud.
What is Forgery
Which term describes a high rate of inflation, a slow rate of economic growth, and a high rate of unemployment
What is Stagflation
Type of endorsement transferring the check to the specified party or payee
What is full endorsement
A form of a demand deposit
What is a certificate of deposit (CD)
The nominal rate on which interest is calculated per year
What is an annual percentage rate
Beliefs that help people distinguish right from wrong.
What is Ethics
A short-term increase in total production.
What is a recession
Using software or a copier to create or reproducing a check is...
What is check counterfeiting
A written promise to pay a sum of money to a specific individual at a future date
What is a promissory note
The interest with the effect of compounding
What is annual percentage yield
A set of guidelines designed to guide employees in situations that could reflect negatively on the organization.
What is a code of ethics
When rising prices decrease the value of money
What is inflation
A check dated six months or more before it is presented for payment or deposit.
What is a stale check
What Card specifies that the account must be paid in full at the end of the month
What is a Charge Card
Price paid for the use of money
What is Interest
When two interests are at cross-purposes
What is a conflict of interest
The loosening of government control
What is deregulation
A written order directing the drawee to pay the amount indicated to a payee
What is a draft
Using the “float time” of available funds to create fraudulent balances
What is Check Kiting
An account that is held for or matures at a specified time
What is a Time Deposit
Sending emails or text messages claiming to be from a reputable company in order to get individuals to reveal personal information
What is a phishing
Bank that manages, regulates, and protects both the money supply and the banks
What is The Central Bank
What is it called when the account has insufficient funds to meet its obligations
What is Overdrawn
Funds payable on demand whenever the depositor chooses
What is a Demand Deposit
Adding interest to the principal and charging interest on the new total
What is compound interest