U1 L2 Banking and Finance Quiz

Which action is required when depositing money into an account?

• include your account number

• list your income

• swipe your credit card

• sign your deposit ticket

What is the purpose of a paycheck?

• to show proof of income

• to be sure you have money

• to keep track of your withdrawals

• to give you money in exchange for work

Where do you endorse a paycheck?

• on the back

• in the memo section

• in the money tracker

• after "Pay to the Order of"

What happens when you have insufficient funds in your bank account?

• required withdrawal

• record transaction

• high fee

• electronic payment

Which is a responsible action to make with your money?

• spend it

• track it

• give it all away

• barter it

Which right does the U.S. Constitution protect?

• right to keep private property

• right to be responsible

• right to a bank account

• right to endorse your paycheck

What does a savings account allow you to do?

• use a money tracker

• have money on hand for unexpected expenses or emergencies

• get money out of the bank

• have more spending money now

How does your money increase in a savings account?

• The bank pays because it uses your money for other investments.

• It grows by sitting in the bank account

• Your money is multiplied by other people's money.

• The longer you leave you money in savings account, the more it grows by a government-set rate