Quiz 2 Review - Checking

Writing For Deposit Only and then signing your name on the back of a check is a(n)

• Blank Endorsement

• Restrictive Endorsement

• Special Endorsement

• Endorsement in full

The FDIC will insure individual checking/savings accounts at a bank up to:

• $125,000

• $150,000

• $250,000

• $0

Who is responsible for confirming your bank account balance?

• the stores you buy from

• your bank or credit union

• you

• debit card company

How often is a bank statement issued

• quarterly

• bi-weekly

• monthly

• annually

A written order to a bank to pay the stated amount to the person or business named is a(n)

• withdrawal

• deposit

• check

• endorsement

A tool used to track checks, withdrawals, deposits, and fees for your checking account

• checkbook register

• deposit slip

• bank reconciliation

• signature card

You have searched everywhere for your debit card. You think it may have been stolen. Of the following actions, what is the BEST thing to do now?

• wait at least 90 days to report your card missing

• file a report

• notify the company that issued your card

True or False: When you swipe your Debit Card and select DEBIT the money comes out of your account instantly.

• True

• False

True or False: When you swipe your Debit Card and select CREDIT the money comes out of your account instantly.

• True

• False

Money deducted from a checking account is called a)

• deposit

• check

• automatic deposit

• withdrawal