Banking - Consumer Ed

Making sure you balance in your check register matches the balance on your bank statement is known as

• endorsing

• drawing

• matching

• reconciling

A cancelled check is one that

• has been cashed and processed by the bank

• you have not recorded in your checkbook

• you have written and recorded in your checkbook, but it has not been cashed

• has been voided by you

A check written by you (or a transaction) that has not been processed by your bank is considered

• cancelled

• outstanding/pending

• certified

• cashier

Most bank accounts are insured by the

• IRS

• SEC

• FDA

• FDIC

Your personal check stamped and signed by your bank guaranteeing that money is in your account to cover the check is called a

• cashier's check

• third party check

• certified check

• cancelled check

You can deduct money from your bank account to make a purchase by use of a

• charge card

• credit card

• debit card

• telephone card

If you make a mistake writing a check, you should

• bounce the check

• cancel the check

• reconcile the check

• void the check

An employer depositing an employee's wages or salary into the employee's bank account is known as a/an

• automatic bill pay

• check endorsement

• direct deposit

• online banking

Which of the following transactions would result in additional fees charged to your account?

• using an in-network ATM

• using an out-of-network ATM

• withdrawing money from your bank

• buying something at the grocery store

A plan for dividing up your income, spending and saving options is a

• short-term goal

• long-term goal

• budget

• savings plan