Banking and Digital Payments Quiz pt1

What is the purpose of an AI Assistant?

• To alter a check

• To make real phone calls

• To calculate average percentage rate

• To provide bank reconciliation

What is the definition of altering a check?

• Changing the face of a written check by the accountholder

• Changing the face of a written check by anyone other than the accountholder

• Changing the face of a written check by the bank

• Changing the face of a written check by the payee

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

What is the function of an Automated Teller Machine (ATM)?

• To calculate average percentage rate

• To provide bank reconciliation

• To alter a check

• To disburse cash from a checking account

What does APR stand for?

• Average Percentage Rate

• Automated Teller Machine

• Average Rate of Return

• Average Payment Receipt

What is the purpose of a bank reconciliation?

• To alter a check

• To calculate average percentage rate

• To show how the bank and checkbook balances are brought into agreement

• To make real phone calls

What does a bank statement provide?

• Average Percentage Rate

• Automated Teller Machine

• Average Rate of Return

• Checking account activity during a one-month period

Which of the following is a popular digital currency?

• Bitcoin

• Litecoin

• Ripple

• All of the above

What is a canceled check?

• A check that has been written and the amount has been withdrawn from the checking account by the bank

• A check that has been altered by the accountholder

• A check that has been altered by anyone other than the accountholder

• A check that has been altered by the payee

What is a Certificate of Deposit (CD)?

• A recordkeeping book used to manage a checking account

• A savings certificate issued by a bank for a specific amount and fixed rates of interest

• A bank-issued card used for ATM and purchasing transactions

• A document used to show how the bank and checkbook balances are brought into agreement

What is the purpose of a checkbook register?

• To alter a check

• To calculate average percentage rate

• To record, manage, and monitor spending and deposit activities in a checking account

• To make real phone calls