4.2 Checking Accounts Lesson

4.2 Checking Accounts Lesson

Open Ended

Why might a person want to have a checking account?

Multiple Select

What are the three common types of checking accounts?

• basic checking account

• savings account

• interest bearing checking account

• lifeline checking account

Multiple Choice

A(n) ______ checking account is a combination savings and checking account.

• basic checking

• interest-bearing

• lifeline

Multiple Choice

When shopping for a checking account, research...

• restrictions and penalties

• fees and charges

• interest rates

• all of the above

Multiple Choice

A check register is a record of account deposits, withdrawals, checks, fees, and interest.

• True

• False

Multiple Choice

Deposit means

• to put money in

• to take money out

Multiple Choice

Withdrawal means

• to put money in

• to take money out

Multiple Choice

Using the deposit slip from the last slide, how much was the check Mary deposited for?

• $20

• $150

• $130

Multiple Choice

What was Mary's total deposit?

• $20

• $150

• $130

Multiple Choice

The person, business, or organization to whom the check is written is the __________________.

• payee

• payer

Multiple Choice

Which of the following items does not appear on a regular check?

• balance of the account

• amount of check written in words

• name of the payee

• checking account number

Multiple Choice

To_______________ is to compare items to make sure they are

in agreement with each other.

• Bank statement

• reconcile

• overdraft

Open Ended

Why do you think checking your bank statement is important?