WorksheetsChecking/Debit Accounts
Total questions: 36
Worksheet time: 30mins
Name
Class
Date
1.
Cash can be withdrawn from a checking account using all of the following except a(n)...
a)
debit card.
b)
check.
c)
ATM.
d)
credit card.
2.
Checking accounts can be FDIC insured like a savings account.
a)
True
b)
False
3.
Withdrawals on a checking account are usually unlimited.
a)
True
b)
False
4.
The first set of numbers on the bottom of a check is...
a)
the routing number.
b)
the owner's account number.
c)
the check number.
d)
the check owner's birthday.
5.
The second set of numbers on the bottom of a check is...
a)
the routing number.
b)
the owner's account number.
c)
the check number.
d)
the check owner's birthday.
6.
A password or identification number entered to use a debit card is called a(n)
a)
ATM.
b)
PIN.
c)
date
d)
verification number.
7.
The three digit code found on the back of a debit card in the signature area.
a)
Account Number
b)
Expiration Date
c)
Authorization Signature
d)
Verification Number
8.
What do you need to withdraw cash from an ATM?
a)
Pin Number
b)
Debit Card
c)
Authorization Signature
d)
All of the Above
9.
If you use an ATM that is not sponsored by your bank, you may be...
a)
given extra money.
b)
given a hug.
c)
Authorization Signature
d)
charged a service fee.
10.
Debit cards are paper and have several lines that need to be filled out.
a)
True
b)
False
11.
Which of the following is not found on a check?
a)
Account Owner's Name & Address
b)
Account Owner's Social Security Number
c)
Authorization Signature
d)
account number
12.
Which type of checking account requires a certain amount of money to be kept in it at all times in order to avoid fees?
a)
Minimum balance account
b)
Free Account
c)
Cost per Check Account
d)
Average Balance Account
13.
Which type of checking account charges a small fee for every check that clears the account?
a)
Minimum balance account
b)
Free Account
c)
Cost per Check Account
d)
Average Balance Account
14.
If you lose a check and want to prevent someone else from using it, you can issue this type of order to the bank.
a)
stop payment
b)
demand deposit
c)
outstanding check
d)
cancelled check
15.
Which of the following refers to the payee's signature on the back of the check?
a)
signature card
b)
check register
c)
endorsement
d)
bank statement
16.
Which of the following refers to checks that have been written but not cashed?
a)
cancelled check
b)
demand deposits
c)
outstanding checks
d)
bank statements
17.
Some banks charge $20 or $25 penalty fee for checks you don't have enough money to cover.
a)
True
b)
False
18.
The way you sign your checks doesn't have to be exactly like the way you signed your name on your signature card
a)
True
b)
False
19.
Money taken out of your checking account.
a)
withdrawal
b)
stop payment
c)
endorsement
d)
outstanding
20.
A line of credit for checks your account can't cover.
a)
overdraft protection
b)
endorsement
c)
stop payment
d)
canceled check
21.
If you want to deposit a check in your account and not cash it, you should write _____ on the back to make sure no one else can cash it.
a)
Your signature
b)
For Deposit Only
22.
A __________ is a log where you keep track of all your checking transactions.
a)
statement
b)
register
23.
To balance your records with the bank's records.
a)
reconcile
b)
register
24.
A blank endorsement allows anyone to cash a check.
a)
True
b)
False
25.
What is a debit card?
a)
it's like a check but comes out of your account automaically
b)
It's more convient than a check
c)
Your use your PIN number to make purchases
d)
all of the above
26.
Which of the following is not something that you fill out on a check?
a)
your signature
b)
It's more convenient than a check
c)
your birthdate
d)
who the check is made payable to
27.
What does it mean to reconcile your checkbook?
a)
call the bank to get your balance.
b)
record all purchases, bills paid, and deposits.
c)
Making sure that all checks are deducted from your register.
d)
Double checking with your bank statement and your check register that the amount is right in your account and bank book.
28.
A _____ is used to add funds to a bank account
a)
deposit slip
b)
signature card
c)
check
d)
check register
29.
After endorsing her check with her name only, Sally lost the check. She is concerned that someone else might cash it. What type of endorsement did she use?
a)
Blank
b)
Restrictive
c)
Special
30.
A check that contains errors must be marked with the word VOID so that others will know that it is not to be used.
a)
TRUE
b)
FALSE
31.
You keep track of all your checking account transactions in your check ___________
a)
ledger
b)
register
c)
journal
d)
record book
32.
When you open a checking account, the first thing you will be asked to fill out and sign is a ______________ card.
a)
autograph
b)
signature
c)
name
d)
name
33.
Debit card purchases must be recorded in your check register.
a)
True
b)
False
34.
A once a month statement from your financial institution that lists all checking account acitivity for the previous month.
a)
reconciliation statement
b)
credit union statement
c)
bank statement
d)
stock statement
35.
Which of the following is a good check writing practice
a)
writing in pencil
b)
writing in pen
c)
writing in the middle of the legal line rather than starting at the left margin
d)
leaving blank lines on your check
36.
When using a ______________ endorsement, you add the statement "for deposit only" and then sign your legal signature.
a)
special
b)
blank
c)
restrictive
100 %
