Practice Test 1

The action enters money into an account.

• Deposit
• Withdrawal
• Loan
• Deduction

Tags

CCSS.7.NS.A.1B

This action removes money from an account, either at the bank or an ATM.

• Withdrawal
• Deposit
• Loan
• Credit

Tags

CCSS.7.NS.A.1A

Orrin had $541.06 in his checking account, and a check that he wrote to his landlord for $560.00 was just deposited.
This will result in which of the following fees?

• overdraft fees
• service fees
• atm fees
• Dormancy Fees

Tags

CCSS.7.NS.A.2A

CCSS.7.NS.A.2B

Sherwood Bennett, who has a checking account at Second Federal Bank, is writing a check to Cassie Porter
What should be written on the "Pay to the order of" line of the check?

• Big Bucks Bank
• Cassie Porter
• Lots a Loot Bank
• Sherwood Bennett

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

People who are unbanked are most likely to...

• Use a mobile banking app

• Receive a monthly statement of their transactions

• Deposit their checks at the ATM

• Incur lots of fees at Check Cashers to access their money

Hailey's bank is FDIC Insured. What is the benefit to Hailey?

• She can use her bank card at any bank, nationwide, without incurring a fee

• If Wanda’s bank goes out of business, she will receive all of her money back from her accounts up to $250,000

• She will receive a debit card and a checkbook she can use to make purchases

• If she makes a purchase with her debit card and the item breaks, she’ll get a full refund

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.7.2

CCSS.RL.8.1

CCSS.RL.9-10.2

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.

Tags

CCSS.RI.4.3

CCSS.RI.5.3

CCSS.RI.6.3

CCSS.RI.7.3

CCSS.RI.8.3

Which term from your bank statement represents the amount of money you have in your account at a given point?

• Balance

• Deposit

• Reference number

• Withdrawal

Tags

CCSS.7.NS.A.1A

How often do customers typically receive a bank statement for their checking account?

• Daily

• Weekly

• Monthly

• Annually

Writing the dollar amount in both numbers and words makes your check more secure.

• True

• False

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4