EPF Mid Term Exam Review

You should always write checks using a(n)

• red pen

• pencil

• colored ink pen

• dark ink pen

An ATM card will not allow you to

• purchase merchandise at a POS terminal

• transfer funds between your accounts

• make deposits to your account

• withdraw funds from your account

Banks require identification to open an account; you must have a(n)

• social security number

• drivers license

• birth certificate

• all of these

The FDIC insures your money up to

• $50k

• $75k

• $150

• $250k

A very safe place for you to keep your money and be insured by the FDIC is

• a safe deposit box

• a checking account

• an ATM machine

• none of these

An organization that provides services related to money is a

• bank

• savings and loan

• credit union

• all of these

When shopping for a bank, you should consider

• restrictions and penalities

• interest rates

• fees

• all of these

Joy Lucky is a Financial Clerk and her hourly wage is $8.50. Last week she worked a total of 49 hours. Joy's union dues are $15 and she deposits $20 in her savings account. Compute her GROSS PAY regular wages

• $300

• $340

• $290

• $365

Joy Lucky is a Financial Clerk and her hourly wage is $8.50. Last week she worked a total of 49 hours. Joy's union dues are $15 and she deposits $20 in her savings account. Compute her GROSS PAY Overtime Wages

• $112.80

• $114.75

• $120.86

• $116.21

Occurs when a check is written for a amount greater than the balance in the account

• Overdraft

• Withholdings

• Net Pay

• Back pay