Personal Finance: Chapter Five and One-Half Online Post-Test

Money added to a checking account is called a

• withdrawal

• deposit

• endorsement

• drawee

To take money OUT of your account, is called:

• WITHDRAWAL
• DEPOSIT
• TRUST
• STEAL

Cash can be withdrawn from a checking account using all of the following except a(n)...

• debit card. 
• check. 
• ATM.
• credit card.

What do you need to withdraw cash from an ATM?

• Pin Number
• Debit Card
• Cash in your Account
• All of the Above

If you use an ATM that is not sponsored by your bank, you may be...

• given extra money.
• given a hug.
• given ice cream.
• charged a service fee.

Ashley wants to make a purchase using the money in her checking account. What method of payment should she use to access these funds immediately and directly?

• credit card

• debit card

• direct deposit

• prepaid card

This type of account is opened by 2 or more people and both people have equal control over the account.

• Shared Account

• Combined Account

• Common Account

• Joint Account

This occurs when the amount you withdraw from your account is more than your balance.

• Overdraft

• Overdue Payment

• Stop Payment

• Funds Transfer

Protect your account with a secondary checking account, savings, money market accounts , credit cards or line of credits

• Overdraft Coverage

• Overdraft Protection

• Overdraft Item

• Overdraft balance threshold

Which of the following best describes what FDIC Insurance is?

• A government backed policy that protects your money if a bank fails

• A bank program that protects you from high overdraft fees

• Additional accounts offered by banks to save for car and home insurance