Banking Concepts Trivia: MCQ Quiz!

8 Questions | Total Attempts: 160

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Banking Concepts Trivia: MCQ Quiz!

Do you know anything about banking concepts? There are many basic banking concepts. Bank credit is the transaction that elevates the bank balance. Bank debit is the transaction that lessons the bank balance. For example, if you say that your bank account was debited, money was taken out of your account. Check out this quiz on banking concepts and cash in your answers.


Questions and Answers
  • 1. 
    What is the limit for FDIC insurance on a single account?
    • A. 

      $100,000.00

    • B. 

      $150,000.00

    • C. 

      $200,000.00

    • D. 

      $250,000.00

    • E. 

      $300,000.00

  • 2. 
    A PIN on a debit card is a?
    • A. 

      Passbook interest number

    • B. 

      Personal insurance number

    • C. 

      Personal identification number

    • D. 

      Passbook insurance number

    • E. 

      There isn't a PIN number on a debit card

  • 3. 
    What type of account is a mix between a savings and checking account?
    • A. 

      Share draft account

    • B. 

      Standard account

    • C. 

      Interest account

    • D. 

      Special account

  • 4. 
    Check 21 means
    • A. 

      The bank uses an electronic image of a check

    • B. 

      The bank returns your cancelled check

    • C. 

      The bank doesn't return the original paper check

    • D. 

      The bank gives you 21 free checks per month

  • 5. 
    Which of the following is NOT a banking service? 
    • A. 

      Electronic Funds Transfer

    • B. 

      Safe Deposit Boxes

    • C. 

      Stop Payment Orders

    • D. 

      Discretionary Funds

  • 6. 
    A check written by the bank on its own funds is a(n)
  • 7. 
    When you write a check and your account doesn't have the funds to cover the check, the check will _____________________.
  • 8. 
    A _______________________ is a type of endorsement that is simply writing your name on the back of a check.
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