Checking Account

Which type of account is more suitable for paying monthly bills?

• Saving account

• Checking account

• Investment account

• Retirement account

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DOK Level 1: Recall

Which of the following is NOT a feature of a checking account?

• Ability to write checks

• Earning high interest rates

• Access to debit card transactions

• Online bill payment options

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DOK Level 1: Recall

Image of a person writing a check.

• A person writing a letter.

• A person drawing a picture.

• A person writing a check.

• A person signing a document.

Two benefits of having a checking account are safety and convenience. Which of the following statements is false?

• If you have a checking account, you won't need to carry as much cash with you.

• With a checking account, you have several options for how to pay bills.

• You can cash checks for free when you cash your paycheck at your bank.

• In order to shop online, you must use a debit card.

Which type of account is typically used for everyday transactions?

• Savings account

• Checking account

• Investment account

• Retirement account

What is a common feature of a checking account?

• High interest rates

• Limited withdrawals

• Check-writing ability

• Tax benefits

Which of the following is a disadvantage of a checking account?

• Low interest earnings

• Limited access to funds

• High transaction fees

• Complex account management

What is the primary purpose of a checking account?

• Long-term savings

• Daily transactions

• Investment growth

• Retirement planning

Which of the following is NOT typically associated with a checking account?

• Debit card access

• Check writing

• High interest rates

• Online banking

What is one way to avoid overdraft fees in a checking account?

• Keep track of your balance

• Use only credit cards

• Withdraw cash frequently

• Close the account