03.00 QUIZIZZ: Using Banking Services

1. What is another name for a traditional bank?

• Brick and Mortar

• Fort Knox

• Old school

• The money store

2. What are the two main types of accounts at banks?

• checking and balancing

• checking and savings

• checking and debit

• savings and borrowing

3. Interest is a fee charged...

• by a lender to a borrower

• by a borrower to a lender

• by a bank for writing a check

• by a bank for making a deposit

4. With an electronic transfer, money is transferred from one account to another without...

• record keeping

• overdraft protection

• service charges

• any check or cash involved

5. In banking, what does ATM stand for?

• Automatic To Money

• At The Moment

• Asynchronous Transfer Mode

• Automated Teller Machine

6. When your check clears the bank, it has...

• been processed and the money transferred out of your account

• been inspected and determined to be free of forgery

• been guaranteed for payment by federal deposit insurance

• is eligible to be cashed at a credit union

7. If you write checks for more than you have in your checking account, your account...

• cannot have outstanding transactions

• will be overdrawn

• will be automatically reconciled

• does not meet credit union regulations

8. A direct deposit...

• cannot be paid by credit unions

• cannot be expressed as a percentage

• is another name for compound interest

• goes to your account without using a check

9. Adding money to your account is called a...

• credit

• deposit

• debit

• withdrawal

10. You can use a debit card to...

• access money in your checking account and transfer it

• accept a payroll deposit from your employer

• write a check

• get overdraft protection