Checking Account Quiz

What is a checking account primarily used for?

• Investing in stocks

• Depositing and taking out money

• Earning interest

• Buying real estate

What happens when you use a debit card linked to a checking account?

• The money is added to your account

• The money is automatically taken out

• The transaction is delayed by a week

• The account balance remains unchanged

What happens when you write a check from your checking account?

• The money is immediately deducted

• It takes a few days for the check to clear

• The check is void if not used within a day

• The money is added to your savings

What is a checking account compared to in the text?

• A savings account

• A wallet

• A credit card

• A loan

What is the benefit of using a debit card at checkout?

• It delays payment

• It automatically deducts money from your account

• It increases your credit score

• It provides cashback

What is one thing you should consider before choosing a bank?

• Balance minimums

• The color of the bank

• The bank's logo

• The bank's location

What is a common requirement for opening a checking account?

• Personal identification

• A letter of recommendation

• A credit card

• A social media account

What is the minimum opening deposit amount mentioned?

• $25

• $100

• $50

• $10

What might big banks be known for?

• Sponsoring sports arenas

• Offering free services

• Having no fees

• Being family-owned

What is one thing you need to do after gathering all required documents for a checking account?

• Walk in and talk with a bank teller

• Mail the documents

• Email the bank

• Wait for a call