Checking Account Review

An example of a restrictive endorsement is "For Deposit Only"

• True
• False

Which of the following is NOT an example of a banking fee?

• Overdraft Fee
• Minimum Balance
• ATM Fee
• Deposit Fee

A debit card allows you to make purchases and pay the money back at a later date

• True
• False

Which of the following are advantages of a debit card?

• Convenience
• Limited Liability if Stolen
• Pay Later

This account is designed for easy access and for everyday expenses

• Savings
• Checking 
• Money Market
• CD

What is a factor when choosing a financial institution?

• Location
• Interest
• Insurance
• All of the Above

A fee that is charged for borrowing money

• Overdraft Fee
• Borrower Fee
• Interest
• ATM Fee

When you reconcile your account you should subtract

• Any outstanding deposits
  
• Any outstanding checks
  
• Interest You Have Earned
• Paychecks

Pat wants to pay for her electricity bill each month - what should she choose?

• Cash
• Credit CArd
• P2P Payment (Person to Person Payment)
• Debit Card/Online Bill Pay

Which of the following is an advantage to online banking?

• Once you set up online banking, your bank will waive overdraft, ATM, and monthly fees.
• With online banking, you can view your daily transactions and balances, rather than waiting for your monthly statement.
• By signing up for online banking, you will activate the FDIC insurance on your account.
• You can shop online only if you've set up online banking