Chapter 12 Review

A strong password can be created by using self-identifying and obvious facts about yourself.

• True

• False

A written, legal document that orders a person's bank to pay a sum of money out of their account to a specified person or business is called a deposit.

• True

• False

e-Filing taxes is the easiest, fastest, and safest way to submit individual tax returns.

• True

• False

There are four common types of endorsement options.

• True

• False

Phishing is when thieves send out e-mails that ask for private information.

• True

• False

(a)   is considered to be private information.

• Account passwords
• Bank account numbers
• Birth date
• All of the above

Match the following tax forms with their descriptions:

• Employee's withholding allowance certificate

• 1099-INT

• Interest income statement form

• 1040-EZ

• Employment income statement form

• W-2

• The simplest income tax form

• W-4

What can a person do if their identity is stolen?

• Place a fraud alert and get a copy of their credit reports

• File a report with the police department

• A and B

• None of the above

Checks written by the account holder that have not yet cleared the bank are known as (a)  

• Outstanding deposits
• Outstanding checks
• Non-sufficient funds
• Electronic funds transfer

Words or a sequence of characters that must be input in order to gain access to something are called

• Passwords

• Account code

• Security system

• User protocol