Checking and Savings Account

This account allows you to deposit money at a bank for safekeeping.

• Saving Account
• Checking Account
• Bill Account
• Casino Account

This is the cost of using some other person's or bank's money.

• Interest
• Bill
• Principal
• Credit

At the beginning of this month, the balance of Vance's checking account was $697.96. So far this month, he has received a paycheck via direct deposit of $962.88, been charged a monthly service fee from his bank of $25.00, used a debit card linked to his account to make a purchase of $83.12, written a check for $138.83 that has already been deposited, and deposited a check written to him for $71.17. What is the current balance of Vance's checking account?

• $1620.38
• $1510.06
• $1485.06
• $787.10

Sherwood Bennett, who has a checking account at Big Bucks Bank, is writing a check to Cassie Porter, who has a checking account at Lots a Loot Bank.
What should be written on the "Pay to the order of" line of the check?

• Big Bucks Bank
• Cassie Porter
• Lots a Loot Bank
• Sherwood Bennett

Cruz had $672.13 in his checking account, and a check that he wrote to his landlord for $650.00 was just deposited.
This will result in which of the following fees?

• overdraft fees
• service fees
• atm fees
• None of the above

Which of the following is not considered a credit?

• Overdraft Fee
• Interest Earned
• Direct Deposit
• ATM Withdrawal

The interest rate on a CD is __________ than that on a regular savings account.

• Lower

• Higher

• Same

• Does not earn interest

Money added to a checking account is called a

• withdrawal

• deposit

• endorsement

• drawee

Shannon makes a deposit in her checking account. She has checks for $178.16 and $36.00. She gets back $20.00 in cash.
What is her total deposit?

• $214.16
• $198.16
• $194.16
• $234.16

To put money $$ in the bank, is called:

• WITHDRAWAL
• DEPOSIT
• INVEST
• WRITE A CHECK