A check is a demand draft drawn on a bank.

A.check

B.time draft

C.trade acceptance

D.demand draft

A.check

B.note

C.draft

D.T/T

maker, engaging to pay, on demand or at a fixed or determinable future time, a sum certain in money to, or to the order of, a specified person, or to bearer.

A．A check

B．A promissory note

C．A bill of exchange

D．None of the above

Cold Snap Predicted

The citizens of Chicago are getting ready for a severe winter storm that (90) to hit the area overnight. The cold weather system, which has moved down from Canada, will bring freezing temperatures, increased moisture, and high winds to the city and surrounding regions. Forecasters are predicting that the city may receive more than 50 cm of snow in the next 24 hours. (91) this prediction proves correct, it will be the heaviest snowfall in the city for more than 50 years.

The city's emergency services are already on alert, and the fire department and city hospitals have called in extra staff. Residents are advised to stay indoors until the storm dies down, and to check on elderly or sick friends and relatives. By taking proper care of themselves and their loved ones, they may be able to (92) the demand for emergency services.

(50)

A．is expecting

B．is expected

C．will be expecting

D．will be expected

purchase without presenting a demand deposit check or cash. Unutilized credit card credit is used instead. The line of unutilized credit available to card holders may be a good candidate for inclusion in the definition of money. These credit lines serve as a medium of exchange for the purchase of a wide variety of goods and services. Lines of unutilized credit card credit are similar to unutilized demand deposit overdraft facilities, which allow customers to issue checks for more money than they have on deposit. Overdrafts, which have long been used in Great Britain and Canada, are now widely used in the Unite States, often against bank credit card credit.

The range of transactions that might be included in computerized credit card transactions is large. Taxicabs, newspaper stands, vending machines, public transportation, street vendors, and highway toll stations, to name but a few places where cash is used, could all, be provided with small machines that store information about purchases. These data sources could be linked into computer terminals at convenient locations or could be entered synchronously with the purchase through centralized communication networks. A centralized electronic funds transfer system could even instantaneously charge the purchases against the buyers' bank accounts and credit the funds to the sellers bank accounts.

Both lines of unutilized credit card credit and unutilized demand deposit overdraft facilities allow customers to use more money than they have on deposit.

A．Right.

B．Wrong.

C．Doesn't say.

Why is there no risk to the customer when a bank prints the customer’s name to his cheques When anyone opens a current account at a bank, he is lending the bank money, repayment of which he may demand at any time, either in cash or by drawing a check in favor of another person. Primarily, the bank-customer relationship is that of debtor and creditor who is which depending on whether the customer’s account is in credit or overdrawn. But, in addition to that basically simple concept, the bank and its customer owe a large number of obligations to one another. Many of these obligations can give rise to problems and complications but a bank customer, unlike, say, a buyer of goods, cannot complain that the law is loaded against him. The bank must obey its customer’s instructions, and not those of anyone else. When, for example, a customer first opens an account, he instructs the bank to debit （）

A．must always be in credit

B．can’t draw any money if you’re overdrawn

C．can draw money without notice

D．can’t pay money to anyone else

Anyone who opens a current account at a bank

he is lending the bank money, repayment of which he 【M1】______

may demand at any time, either cash or by drawing a 【M2】______

check in favor of another person. Primarily, the bankercustomer

relationship which is of debtor and creditor— 【M3】______

which is depending on whether the customer's

simple account is in credit or is overdrawn. But, in

addition on that basically simple concept, the bank and 【M4】______

its customer owe a large number of obligations to one

and another. Many of these obligations give rise to problems 【M5】______

and complications, but a bank customer, unlike, say, a buyer

of goods, cannot complain that the law is loaded against him.

The bank must obey its customer's instructions, and not

those of anyone else. When, for example, a customer

first opens an account, he instructs the bank to enter its

count only in respect of checks drawn by himself. 【M6】______

He gives the bank specimens of his signature, and there

is a very firm rule that the bank has no right or obligation

to pay out a customer's money on a check on which

its customer's signature has forged. It makes no difference 【M7】______

that the signature maybe a very skillful one: the bank must 【M8】______

recognize its customer's signature. For this reason there

are no risk to the customer in the modern practice, adopted 【M9】______

by some banks, of printing the customer's name on his

check. If this facilitates forgery, this is the bank which will 【M10】______

lose, not the customer.

【M1】

？

When anyone opens a current account at a bank, he is lending the bank money, repayment of which he may demand at any time, either in cash or by drawing a check in favor of another person. Primarily, the bank-customer relationship is that of debtor and creditor who is which depending on whether the customer's account is in credit or overdrawn. But, in addition to that basically simple concept, the bank and its customer owe a large number of obligations to one another. Many of these obligations can give rise to problems and complications but a bank customer, unlike, say, a buyer of goods, cannot complain that the law is loaded against him.

The bank must obey its customer's instructions, and not those of anyone else. When, for example, a customer first opens an account, he instructs the bank to debit (把……记入借方) his account only in respect of checks drawn by himself. He gives the bank specimens of his signature, and there is a very firm rule that the bank has no right or authority to pay out a customer's money on a check on which its customer's signature has been forged. It makes no difference that the forgery may have been a very skillful one: the bank must recognize its customer's signature. For this reason there is no risk to the customer in the practice, adopted day banks, of printing the customer's name on his checks, ff this facilitates forgery, it is the bank which will lose, not the customer.

When you have a bank account, you ______. ()

A．must always be in credit

B．can't draw any money if you're overdrawn

C．can draw money without notice

D．can't pay money to anyone else

听力原文： A certificate of deposit (CD) is a time deposit with a bank. Time deposits may not be withdrawn on demand like a check account. CDs are generally issued by commercial banks but they can be bought through brokerages. They bear a specific maturity date that usually lasts from 3 months to 5 years, a specified interest rate, and can be issued in any denomination, very similar to bonds. CDs offer a slightly higher yield than T-Bills because of the slightly higher default risk for a bank, but overall the likeliness of a large bank going broke is pretty slim. Of course, the amount of interest you earn depends on a number of factors such as the current interest rate environment, how much money you invest, the length of time, and your specific bank.

24. What is a CD？

25.Which of the followings generally issue CDs？

26.How long does a specific maturity usually last？

27.Why do CDs pay higher return to investors than T-bills？

(24)

A．A term deposit that can be drawn at any time.

B．A time deposit with a bank.

C．A current deposit.

D．A cheek account.

Checking accounts

In the United States, checking accounts are available only at commercial banks. Commercial banks specialize in demand deposits, such as checking accounts. A checking account is money that a customer deposits in order to use that money to write checks. Saving accounts pay the depositor interest but checking accounts do not. In fact, checking account customers pay the bank a service charge for the bookkeeping involved in administering the account.

The method of recordkeeping is also different in savings accounts and checking accounts. A depositor must present his passbook for any savings account transaction. The bank records these transactions in the depositor's passbook. Checking account customers, however, do not have passbooks. They themselves record the amounts of the checks that they write and they receive a monthly statement from the bank. This statement lists all the checks that the bank paid and all deposits that the account holder made during the month. The bank usually sends the statements with the customer's cancelled checks. The customer then compares the balance on the statement with the balance in his own records by subtracting the total of his outstanding checks.

There are other fees that the bank may collect from checking account holders. For instance, banks charge a fee for stopping payment to a check. When a depositor decides that be doesn't want the bank to pay a payee, but he bas already written a check to that person, he may give the bank a stop payment order. The bank will then refuse to pay this check, and charges the depositor a fee. 'Banks also charge a depositor a fee when he is overdrawn. A depositor is overdrawn when he writes a check for more money than the balance in his account: The bank marks the check "insufficient funds", returns it, and charges a penalty for it. In everyday language we say that a check returned for insufficient funds has "bounced".

Recent changes in banking regulations have allowed savings banks to offer negotiable order of withdrawal accounts. These accounts, called N. O. W. accounts, are very similar to checking accounts but they pay interest like savings accounts. The depositor can write withdrawal orders against the balance in the account. These withdrawal orders look like checks, and depositors receive a monthly statement summarizing deposits and withdrawals. There is often no service charge if depositors keep a minimum balance in their accounts. Commercial banks also offer N. O. W. accounts.

As far as checking accounts go, the difference between savings banks and commercial banks is growing smaller in the U. S.

State whether each statement is true or false based on the reading.

Checking accounts are available at savings banks.

A．True

B．False