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- 1. Multiple ChoiceThis account allows you to withdraw money, pay a bill, or make purchases easily.Checking AccountSavings AccountMarket Money AccountCD Account
- 2. Multiple Choice
This action enters money into an account.
DepositWithdrawalLoanDeduction - 3. Multiple ChoiceThis action removes money from an account, either at the bank or an ATM.WithdrawalDepositLoanCredit
- 4. Multiple ChoiceThis action allows movement of funds from one account to another.TransferDebitCreditLoan
- 5. Multiple Choice
Orrin had $541.06 in his checking account, and a check that he wrote to his landlord for $560.00 just cleared. This will result in which of the following fees?
overdraft fees
service fees
atm fees
over spending fee
- 6. Multiple Choice
Sherwood Bennett, who has a checking account at Big Bucks Bank, is writing a check to Cassie Porter, who has a checking account at Lots a Loot Bank. What should be written on the "Pay to the Order of" line of the check?
Big Bucks BankCassie PorterLots a Loot BankSherwood Bennett - 7. Multiple ChoiceJean Bernard, who has a checking account at Treasure Trove Bank, is writing a check to Frank Walton, who has a checking account at Mucho Dinero Bank. What should be written on the "Pay to the order of" line of the check?Frank WaltonJean BernhardMucho DineroTreasure Trove Bank
- 8. Multiple ChoiceWhich of the following is not found on a check?Account Owner's Name & AddressAccount Owner's Social Security Numberrouting numberaccount number
- 9. Multiple Choice
The checking account fees for Banks A, B, C, and D are shown in the table:
If a customer writes 26 checks per month, which bank will charge him the least in feesBank ABank BBank CBank D - 10. Multiple Choice
A checking account is best used for...
Saving money
keeping money you spend
Investing money
direct depost of your paycheck
- 11. Multiple ChoiceWhat should be written on line 6?the datethe amount of the checkwho the check is going toyour signature
- 12. Multiple Choice
What is this paper?
It's a tax return paper
It's a credit card statement
It's a bank statement
- 13. Multiple ChoiceCash can be withdrawn from a checking account using all of the following except a(n)...debit card.check.ATM.credit card.
- 14. Multiple Choice
The number of withdrawals allowed on a checking account are usually limited.
True
False
- 15. Multiple Choice
If you use an ATM that is not sponsored by your bank, you may be...
given extra money.
sent a notice by your bank.
not allowed to get money.
charged a fee.
- 16. Multiple Choice
You are writing a check to Spectrum for $50.25 on October 23, 2020 for your October Internet Bill. What would go in blank A?
10/23/2020
Spectrum
50.25
fifty and 25/100
October Internet Bill
- 17. Multiple Choice
You are writing a check to Spectrum for $50.25 on October 23, 2020 for your October Internet Bill. What would go in blank C?
10/23/2020
Spectrum
50.25
fifty and 25/100
October Internet Bill
- 18. Multiple Choice
If you deposit money into a checking account, you _____ in your check register.
add
subtract
multiply
divide
- 19. Multiple Choice
If you withdraw money from a checking account, you ____ in your check register.
add
subtract
multiply
divide
- 20. Multiple Choice
You have $550 in your checking account. You deposit a check for $50 and withdraw $75. What is your account balance after these transactions?
$550
$600
$525
$575
- 21. Multiple Choice
What is the definition of a check?
A deposit account held at a bank that gives you convenient access to your money.A record of checking account deposits, withdrawals and electronic transfersA paper document directing a bank to deduct money from your checking account and make a payment to the person named on the check - 22. Multiple Choice
Which item will NOT be found on your checking account bank statement?
bank address
cleared check
voided check
current balance
- 23. Multiple Choice
How often will your bank send a statement with your current transactions?
twice a month
weekly
every six months
monthly
- 24. Multiple Choice
Your bank may encourage you to "go paperless" with your statement. What does that mean?
get a recording of your statement
get your statement electronically
request not to have a statement
pick up a copy at your local branch
- 25. Multiple Choice
How much does Mary Jane Smith get paid at her job?
$272.45
$2100.00
$729.96
$250.00
- 26. Multiple Choice
If your posted checks are out of order on your bank statement, this might be because...
you have voided a check
the bank has lost a check
you skipped a check in your checkbook
the check is outstanding
- 27. Multiple Choice
How many checks are posted on this statement?
3
4
13
2
- 28. Multiple Choice
How many withdrawals are shown on this bank statement?
3
13
4
9
- 29. Multiple Choice
Which items would appear on your bank statement?
your account number
your current balance
your direct deposits
your ATM pin number
- 30. Multiple Choice
If you had an automatic payment to Genoa bank for your car payment of $230.75, which is the correct way to record this in your check register?
- Answer choicesTagsAnswer choicesTags