Checking Account & Debit Card
- 1.How are funds in a checking account accessed?
- A.
Check and ATM
- B.
Debit card
- C.
Telephone and Internet
- D.
All of the above
- 2.The steps in writing a check are:
- A.
Amount, payee, date, signature
- B.
Signature, payee, amount, date
- C.
Date, payee, amount, signature
- D.
Date, amount, payee, signature
- 3.What are common financial services used by many consumers?
- A.
Checking account and debit card
- B.
Checking account and stock issues
- C.
Debit card and stock issues
- D.
Stock issues and bonds
- 4.What are the three types of endorsements?
- A.
Blank, Reduced, and Special
- B.
Blank, Restrictive, and Spectacular
- C.
Bold, Restrictive, and Special
- D.
Blank, Restrictive, and Special
- 5.What information is located on an account holder's check in the top left corner?
- A.
Name, address, financial institution, ID number
- B.
Name, address, financial institution, account number
- C.
Name, address, financial institution, date
- D.
None of the above
- 6.What is a check register?
- A.
A place to get free movies.
- B.
A place to record telephone calls.
- C.
A place to record all monetary transactions
- D.
A place to call home.
- 7.What is the term for balancing the checkbook with the bank statement?
- A.
Reconciling
- B.
Balancing
- C.
Checking
- D.
Registering
- 8.What should be filled out when making a deposit at the bank?
- A.
Check
- B.
Debit Card
- C.
Deposit slip
- D.
Sales slip
- 9.When making a withdrawal at an ATM machine, what should you write in the number column of the check register.
- A.
ATM
- B.
DC
- C.
WITHDRAWAL
- D.
DEP
- 10.When recording a debit card transaction in the check register, what should you write in the number column.
- A.
DEP
- B.
DC
- C.
D
- D.
ATM
- 11.When recording deposit in the check register, what should you write in the number column.
- A.
D or DC
- B.
DC or DEP
- C.
DEP or ATM
- D.
DEP or D
- 12.Why do people use checking accounts?
- A.
Can spend more money
- B.
Reduces the need to carry large sums of cash
- C.
Convenient and Safety
- D.
Both b and c
- 13.Why does a check bounce?
- A.
Has too much air in it.
- B.
Insufficient funds
- C.
More than enough funds
- D.
All of the above
- 14.Why is it important to record all transactions in the check register?
- A.
Keep accurate record
- B.
Keep track of checks written
- C.
Keep track of deposits
- D.
All of the above
- 15.Why should you write in cursive when signing a check?
- A.
It is more difficult to read
- B.
It is more difficult to see
- C.
It is more difficult to copy
- D.
All of the above
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