Banking

The amount of money in a bank account is called what?

• Balance

• Debit

• Account total

• Check register

An exchange rate is

• the worth of currency when exchanged with cash.

• the amount currency is worth when it's exchanged with another country's currency.

• the amount a dollar is worth when exchanged for coins.

• the amount bonds are worth when they're exchanged for cash.

If you need to work directly with a bank employee, which transaction method should you choose?

• Funds transfer

• Direct deposit

• Bank branch

• Online

Which of the following is typically not a feature of a checking account?

• A debit card

• ATM transactions

• Interest

• A minimum balance

Which of the following is less important to consider when choosing a bank?

• The financial services the bank offers

• The number of employees at the bank branches

• The types of accounts offered by the bank

• The distance between your home and the bank

A ______ endorsement states that you shouldn't be responsible if funds are insufficient

• Special

• Blank

• Restrictive

• Qualified

Which of the following is a right that's given to anyone who has a bank account?

• The right to refuse to pay overdraft fees

• The right to change the minimum balance on the account

• The right to be told what fees or minimum balances an account has

• The right to write an unlimited number of checks

What is an overdraft?

• Making purchases at too many different retailers

• Going below the minimum balance of your account

• Not making deposits frequently enough

• Spending more money than you have in your account

What does using your checking register let you do?

• Make purchases onine

• Keep track of transactions that affect an account

• Keep track of the visits you make to a bank branch

• Make electronic transfer payments

A __________ is when you move money from one bank account to another.

• Withdrawal

• ATM transaction

• Deposit

• Transfer