DOL - Banking 6.14BC

1. Which statement about debit cards and credit cards is NOT true?

• Interest is charged on debit card purchases.

• When a debit card is used for purchases, money is withdrawn directly from a bank account.

• The total amount of money that can be spent on a credit card purchases depends on a

  customer's credit limit.

• When a credit card is used, money is borrowed.

2. Which statement is true for a credit card but NOT true for a debit card?

• A cardholder must use a personal identification number (PIN) when making purchases.

• A cardholder will have money withdrawn from an associated checking account when

  making purchases.

• A cardholder will be charged interest on a purchase unless the balance on the card is paid

  in full at the end of the billing period.

• A cardholder can use an automated teller machine (ATM) to withdraw money.

The check register below shows Carly's checking account activity for the week.

Where did Carly make an error in balancing her checkbook?

• She put her internet bill in the wrong column.

• She subtracted her internet bill incorrectly.

• She put the clothes purchase in the wrong column.

• She added her paycheck to her balance incorrectly.

Tags

CCSS.7.NS.A.1C

The check register shows the transactions in Ms. Garcia's new checking account.

She opened the account on October 3rd.

Based on the information in the check register, what is the balance in Ms. Garcia's check register after the ATM transaction on October 11?

• $5,105

• $2,095

• $3,600

• $1,505

Tags

CCSS.7.NS.A.3

Soon-Yi's checking account register is shown below.

If all of the transactions are recorded correctly,

what was Soon-Yi's starting balance?

• $445.26

• $261.91

• $540.24

• $475.25

Tags

CCSS.6.NS.B.3