Checking Vocabulary

What is a Checking Account?

• A) A record book for tracking deposits and withdrawals.

• B) A plastic card linked to your account.

• C) An account used for everyday transactions.

• D) A government agency.

What is a Deposit?

• A) A written order to pay someone.

• B) Taking money out of a bank account.

• C) Putting money into a bank account.

• D) A bank card.

Tags

CCSS.6.NS.C.5

What is a Check?

• A) A government agency.

• B) A summary of transactions.

• C) A written order to pay from your account.

• D) An ATM machine.

What is an Overdraft?

• A) When your account balance is zero.

• B) When you spend more than you have in your account.

• C) A fee charged for using ATMs.

• D) A bank's monthly report.

What is the Minimum Balance?

• A) The highest amount of money you can have in your account.

• B) The lowest amount of money to have in your account to avoid fees or account closure.

• C) The amount you should spend daily.

• D) The amount you owe to the bank.

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

What is Direct Deposit?

• A) A method of depositing checks at the bank.

• B) A way to check your account balance.

• C) Automatically depositing payments into your account.

• D) A type of bank card.

What does the FDIC stand for?

• Federal Deposit Insurance Corporation
• Federal Department of Internal Control
• Financial Division of Investment Companies
• Fiscal Department of Insurance Companies

What is an ATM?

• A) A machine for tracking account balances.

• B) A machine for depositing money into your account.

• C) A machine for withdrawing cash and checking balances.

• D) A digital tool for managing accounts.

What is an Account Statement?

• A) A monthly summary of account transactions.

• B) A written order to pay someone.

• C) A record book for tracking deposits.

• D) A plastic card linked to your account.

What is Online Banking?

• A) Accessing and managing your account through the internet.

• B) Banking using only paper checks.

• C) Accessing your account via a mobile app.

• D) Depositing money at a physical bank