Gr 7 Finance Unit 2 Review

How does a person "bounce a check"?

• Deposits more than the amount in the account

• writes a check or more than the charged amount

• writes a check for more than what's in the account

Deposit means to

• take money out of an account

• put money into an account

• withdraw

Money taken out of an account means to withdraw.

• true

• false

Checking accounts are safe and convenient.

• false

• true

A common account used for deposits and withdraws.

• savings

• checking

• CD

Most checking accounts do NOT

• have fees

• allow for deposits and withdraws

• pay interest

A check and a debit card typically use the same bank account

• True

• False

Checks and debit cards are linked to which account for frequent withdraws and deposits.

• checking

• savings

• 401K

FDIC and NCUA are

• savings plans

• insurances for your money in a financial institution

• are made up words

Scanning a check using your phone and depositing it into you bank account is an example of

• ATM

• E- Banking

• Mobile Banking