Understanding Banking Terms Quiz

What is the purpose of a signature card at the bank?

• To record all transactions

• To know who is authorized on the account

• To calculate the net deposit

• To endorse checks

Tags

DOK Level 2: Skill/Concept

Which of the following best describes a check register?

• A place to record all transactions and should always show your current and correct balance

• A document to sign when you receive cash

• The amount of money actually deposited

• The amount before "less cash received"

Tags

DOK Level 2: Skill/Concept

When should you sign your deposit slip?

• When you want to endorse a check

• When you want cash money from the deposit

• When you want to record a transaction

• When you want to calculate the net deposit

Tags

DOK Level 2: Skill/Concept

What does "net deposit" refer to?

• The amount before "less cash received"

• The amount of money that is actually deposited and recorded on the check register

• The total amount of all checks

• The amount after all transactions are recorded

Tags

DOK Level 2: Skill/Concept

What does it mean to endorse a check?

• To record the transaction in the check register

• To sign the back of a check to cash or deposit it for the amount of the check

• To calculate the sub-total deposit

• To sign the deposit slip for cash received

Tags

DOK Level 2: Skill/Concept