Check Transactions Quiz

Define the term "Post-dated Check."

• A check written with a future date

• A check that has been dishonored

• A check with no payee

• A check with a memo line

What does "Dishonored Check" mean?

• A check that is accepted by the bank

• A check that is returned unpaid

• A check with a future date

• A check with a routing number

Who is the "Payee" in a check transaction?

• The person writing the check

• The bank processing the check

• The person receiving the check

• The person endorsing the check

What is the purpose of the "Memo Line" on a check?

• To indicate the check number

• To specify the check amount

• To note the purpose of the check

• To list the payee's address

What is a "Routing Number" used for?

• Identifying the check number

• Identifying the bank

• Identifying the payee

• Identifying the check amount

True or False: Your signature on a check must match the signature card you have on file with the bank.

• True

• False

True or False: If the amount in writing does not match the amount in numbers, the bank may not cash the check.

• True

• False

True or False: A check number is located ONLY in the top right corner of the check.

• True

• False

What does "insufficient funds" mean?

• The check amount is too high

• The account does not have enough money

• The check is post-dated

• The check is dishonored

How are cashier’s checks different from personal or business checks?

• They are written by the account holder

• They are guaranteed by the bank

• They have no payee

• They are always post-dated