Checking Account Pre-Assessment

You can overdraw your checking account without incurring any fees if you have overdraft protection.

• True

• False

All checking accounts come with a monthly maintenance fee.

• True

• False

It is safe to share your checking account number with trusted parties, such as employers or service providers.

• True

• False

You must only use checks or debit cards to access funds in your checking account.

• True

• False

If your checking account balance is negative, your bank is required to notify you immediately.

• True

• False

Overdraft fees are charged when you spend more than you have in your account without having overdraft protection.

• True

• False

It’s a good practice to reconcile your checking account regularly to avoid errors and unauthorized transactions.

• True

• False

Direct deposits can be made into your account from various sources, such as a company or government benefits.

• True

• False

The interest rates on checking accounts are generally higher than those on savings accounts.

• True

• False

A checking account can help you build a positive credit history if you regularly manage it responsibly.

• True

• False