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Module 5 Quiz Review

Authored by Kaitlyn Rehbein

Business

10th - 12th Grade

Used 59+ times

Module 5 Quiz Review
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15 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which line on a check designates who will receive the money?

Memo line

Payee line

Numerical dollar box

Signature line

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

When filling out a deposit slip, which line designates Cash Back?

Total

Net Deposit

Less Cash Received

Checks

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A person writes a check for more money than he has in his checking account. In order for the check to be paid by the bank, he needs to have:

Credit Insurance

A Credit History

A Joint Account

Overdraft Protection

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A sum provided at the beginning of the lease to ensure payment for any incurred damages is a ______________________.

Transaction Fee

Security Deposit

Mortgage

Rent Payment

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A __________________ also known as a BANK DRAFT, is a check written by a bank on its own funds.

Certified Check

Guaranteed-Payment Check

Cashier's Check

Money Order

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

To determine the time value of depositing $100 in a savings account, a person needs to know the interest rate and which of the following:

their total income

whether the account is FDIC protected

the rate of inflation

whether the bank offers overdraft protection

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

It is generally better for a person to buy a home that she can afford than to rent an apartment because she will _______.

build equity

have fixed insurance needs

have a lower debt to credit ratio

avoid bankruptcy

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