RULES OF THE GAME
THE INVESTOR
The Investor has these responsibilities:
- selecting stocks for portfolio;
- monitoring stocks' activity via the internet; and
- making correct transactions with banker and broker.
THE BANKER
The Banker has these responsibilities:
- keeping a BANK ACCOUNT NOTEBOOK (a BANK ACCOUNT sheet
completed by each student--alphabetized by students' last names);
- making certain customers have filled out their checks
correctly;
- filing canceled checks that have been credited to various
accounts;
- filing any other papers that are entrusted to his/her
care.
PROCEDURE A customer who wishes to take some money out of his/her account
must go to the Banker and ask for a check. The customer fills out the chedk,
signs it, and returns it to the Banker for his/her signiture. Before signing
the chedk, the Banker verifies the correctness of the check and that the
customer has enough money in his account to cover the check. The Banker
then reduces the customer's account by the amount of the check and enters
the new balance in the BANK ACCOUNT NOTEBOOK and the customer's BANK BOOK.
If the customer has a check to deposit, the Banker takes the check and enters
the amount and the new balance in both the BANK ACCOUNT NOTEBOOK and the
customer's BANK BOOK. The Banker then punches holes in the check so that
it cannot be used again. Finally, the BANKER files these "canceled"
checks in case anyone wishes to examine them later.
THE STOCK BROKER
The Stock Broker has these responsibilities:
- buying and selling stock certificates;
- checking the accuracy of a customer's personal check
and STOCK TRANSACTION SLIP;
- keeping the STOCK TRANSACTION RECORD;
- issuing STOCK CERTIFICATES; and
- writing STOCK EXCHANGE checks whenever a customer sells
his/her stocks.
PROCEDURE Buying A customer who wishes to buy stock presents a STOCK
TRANSACTION SLIP and a personal check to the Broker. The Broker assesses
the accuracy of the price used on the slip and the correctness of the math
on both the slip and the check. He/she then issues a STOCK CERTIFICATE.
Selling A customer who wishes to sell his stock presents the STOCK CERTIFICATES
and a STOCK TRANSACTION SLIP to the Broker. The Broker checks to see that
the prices listed and the math are correct. The Broker then writes a Stock
Exchange check for the customer. The STOCK CERTIFICATE is then punched so
that it cannot be resold. Both transactions are then listed on the STOCK
TRANSACTION RECORD sheet.