Investing & Banking

To make a check invalid or not legally binding you would write which word in large letters across the check?

In order to endorse a check for deposit what would you put on the back of the check?

• The date

• The bank name

• Your account number

• Your signature

Tom recently opened a checking account. He wants to keep track of all of his transactions on paper. Which of the following would he use?

• Check register

• Check binder

• Check log

• General journal

Sally recently opened a new checking account. She's exited because this financial establishment puts its earning back into interest to their members (her). She opened an account at which of the following?

• Credit Union

• Stock market

• Bank

• Brokerage firm

Brad has elected to open a new checking/savings account at a financial institution that has shareholders. Which of the following did he open an account with?

• Credit Union

• Insurance Company

• Bank

• Brokerage Firm

If you have $75 in your account and you write a check for your car payment for $125 what will happen when the check is cashed?

• The check will bounce and you will be charged a fee

• The bank will cover the cost until your balance is positive again

• Your account will be closed

• The bank will call you and give you a week to add funds to your account

You go to check out at American Eagle and your bill is $50. You use your debit card to pay. Where does the money come from?

• The money comes directly out of your savings account.

• The store sends you a bill in the mail.

• Your credit card company covers the cost until you pay.

• The money comes directly out of your checking account.

All of the following are ways to get money from your checking account except?

• Writing a check

• Use the ATM

• Use your debit card

• Use your credit card

When writing a check for a payment of $154.08 which is the appropriate way to write out the payment amount on the check?

• One hundred fifty four and ------------ eight cents

• 154 dollars and 8 cents

• One hundred fifty four and 08/100------------

• One hundred and fifty four dollars and 08/100

All of the following are important components of writing a check except...

• Using a blue or black ink

• Making sure the written amount equals the numerical amount

• Putting the purpose of the check in the memo space

• Make sure the check is never folded