Banking Quiz

Banking Quiz

12th Grade

22 Qs

quiz-placeholder

Similar activities

Personal Finance Review

Personal Finance Review

9th - 12th Grade

20 Qs

Financial Institutions Review

Financial Institutions Review

9th - 12th Grade

20 Qs

Banking

Banking

12th Grade

20 Qs

Accounting Chapter 11

Accounting Chapter 11

11th - 12th Grade

25 Qs

Investing for Retirement

Investing for Retirement

10th - 12th Grade

20 Qs

Teller Test Study Guide

Teller Test Study Guide

12th Grade

19 Qs

Chapter 15 Voc Test

Chapter 15 Voc Test

10th - 12th Grade

22 Qs

W!SE Terms

W!SE Terms

9th - 12th Grade

20 Qs

Banking Quiz

Banking Quiz

Assessment

Quiz

Business

12th Grade

Medium

Created by

Shelly Culp

Used 3+ times

FREE Resource

22 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a stop-payment order?

A request to cancel a check before it is cashed

A request to increase the credit limit

A request to open a new account

A request to change account details

Answer explanation

A stop-payment order is specifically a request to cancel a check before it is cashed, preventing the funds from being withdrawn. This is crucial for stopping unauthorized or lost checks.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a certified check?

A personal check verified by the bank

A check used for international payments

A check that cannot be cashed

A check that is postdated

Answer explanation

A certified check is a personal check that the bank verifies and guarantees, ensuring that the funds are available. This makes it a secure form of payment, unlike the other options listed.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of a bank statement?

To provide a summary of account transactions

To apply for a loan

To open a new account

To increase credit limit

Answer explanation

A bank statement provides a summary of account transactions, detailing deposits, withdrawals, and balances over a specific period. This helps account holders track their financial activity.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is a payee in banking terms?

The person to whom a check is written

The person writing the check

The bank issuing the check

The person endorsing the check

Answer explanation

In banking terms, a payee is the person to whom a check is written. This means they are the recipient of the funds, distinguishing them from the check writer, the bank, or the endorser.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a special payment service?

Cashier’s check

Certified check

Money order

Savings account

Answer explanation

A savings account is a type of deposit account used for saving money, not a special payment service. In contrast, cashier’s checks, certified checks, and money orders are all payment services.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a money order?

A check for any amount

A payment order for a specific amount payable to a specific payee

A type of loan

A form of electronic payment

Answer explanation

A money order is a payment order for a specific amount that is guaranteed and payable to a specific payee, making it a secure method of payment. This distinguishes it from checks, loans, and electronic payments.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What must a customer do to open a checking account?

Verify identity, fill out forms, and sign a signature card

Only fill out forms

Just sign a signature card

Provide a deposit

Answer explanation

To open a checking account, a customer must verify their identity, fill out the necessary forms, and sign a signature card. This ensures compliance with banking regulations and protects both the bank and the customer.

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?