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Checking 1.1-1.4

Authored by Betsy Mack

Business

12th Grade

Checking 1.1-1.4
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30 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

  1. Which of the following is NOT a method of depositing money into a checking account?

  1. Through an ATM

  1. Direct deposit from your employer

  1. Sending your money to the branch through the mail

  1. Mobile app deposit


2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

  1. Which of the following best describes what FDIC Insurance is?

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

  1. A bank program that protects you from high overdraft fees

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

  1. A budgeting program offered by banks to help you save for the future


3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

  1. Which of the following is a similarity between debit cards and prepaid cards?

  1. Both are linked to a bank

  1. Both are limited by the amount of money that you currently have

  1. Both require a credit check to use

  1. Both require a fee to put money into the account

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is a P2P Payment?

Cash App

Venmo

Paypal

All of the above

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does it mean to deposit money ?

Put money in the bank

Take out money from bank

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does it mean to withdraw money?

Take out money from bank.

Put money in the bank.

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

WITH overdraft protection.

ACTUAL balance of $200.

You buy books amounting to $300 using your debit card.


What is the result of this transaction?

You are able to purchase $300 worth of books, You have a $35 fee for the overdraft You need to pay the bank with $100 as well.

Since you had the necessary funds in your savings account, the transaction is OK

Your card is declined because you don't have $300 in your checking account

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