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WorksheetsBanking
Total questions: 16
Worksheet time: 6mins
Name
Class
Date
1.
Taking more money out of your account than is available is called?
a)
Overdraw
b)
Deposit
c)
Withdraw
d)
Balance
2.
Taking more money out of your account than is available is called?
a)
Overdraw
b)
Deposit
c)
Withdraw
d)
Balance
3.
What is one difference between Banks and Credit Unions?
a)
Banks have Checking accounts and Credit Unions have Savings Accounts
b)
Banks are for profit. Credit Unions are Non-profit.
c)
Banks can give loans and Credit Unions cannot
d)
Credit Unions allow everyone to join and Banks are selective
4.
What is the amount of money required to be stay in an account?
a)
Maximum Balance
b)
Minimum Balance
c)
Minimum Deposit
d)
Maximum Deposit
5.
What agencies insure banks and credit unions?
a)
IRS and DHS
b)
DHS and FDIC
c)
FDIC and NCUA
d)
NCUA and FICA
6.
You should keep your pin number in your wallet.
a)
True
b)
False
7.
What is the name of a legal document that functions like cash?
a)
Check
b)
ATM
c)
Deposit slip
d)
PIN
8.
When do you have to sign a deposit slip?
a)
When you receive cash back
b)
When you deposit any amount of cash
c)
When you deposit more than $100
d)
When you deposit more than $10,000
9.
What do you call the process of bringing your checkbook register into agreement with the bank statement?
a)
Withdrawal
b)
Deposit
c)
Reconciliation
d)
Endorsement
10.
How do financial institutions make most of their money?
a)
Fees
b)
Interest
c)
Mutual Funds
d)
Loan Payments
11.
The tools and strategies the Federal Reserve uses to stabilize the economy is called?
a)
Fiscal Policy
b)
Monetary Policy
c)
Tight Money
d)
Easy Money
12.
How many federal reserve districts are there?
a)
5
b)
10
c)
12
d)
21
13.
How many Board of Governor members are there?
a)
3
b)
5
c)
7
d)
12
14.
Banks create money by taking in deposits, making _______, and charging _______.
a)
interest, payments
b)
loans, interest
c)
payments, loans
d)
debt, loans
15.
What type of endorsement is the most secure?
a)
Blank Endorsement
b)
Restrictive Endorsement
c)
Endorsement in Full
d)
Full Endorsement
16.
If you make an error on a check, what should you do?
a)
Void the check and write a new one
b)
Make corrections and initial the change
c)
Use whiteout to fix the error
d)
Throw the check away and write a new one
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