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WorksheetsW!SE Banking
Total questions: 15
Worksheet time: 15mins
The best reason for depositing money in a bank or credit union savings account instead of keeping your money “under the mattress” is that
It is insured.
It earns interest.
It is safer.
It grows.
The central banking system in the United States.
Federal Reserve
The U.S. Treasury
The Mint
First National Bank of the U.S.
What is an ATM used for?
Withdraw money
Balance your checkbook
Order checks
Write checks
The law that allows for electronic images of checks to be transmitted for processing in place of paper checks is
Check 21
Truth in Lending Law
Murphy's Law
Equal Opportunity Banking Law
Which of the following services will you NOT be able to access while banking online?
Withdraw cash
Transfer funds
Deposit checks
Order checks
What is the difference in a bank and a credit union?
Credit unions are member owned.
Banks are non-profit
Credit unions are for profit
Banks deal with less cash than credit unions.
Which business charges large fees to cash payroll and government checks to people who do not have a bank account?
Check Cashing Centers
Title Loan Centers
Rent-a-Center
Credit Unions
What is money placed in a checking account called?
Demand deposits
Cash advance
Investments
Bonds
What should you include when you are writing a check?
Date, Payee, Amount, and Signature
Amount, Payee, Signature, check number
Endorsement, Amount, Signature
Date, Amount, Signature
What are direct deposit, electronic funds transfers, and automatic monthly payments features of?
Electronic banking
Check 21
Functions of the Federal Reserve
Pay yourself first
Which of the following financial services is best suited for saving money over a period of years?
Certificate of Deposit
Checking Account
Money Market Account
Stocks
What is obtaining cash from an ATM similar to?
Writing a check
Using credit
Shopping online
Online banking
How does an outstanding check affect your bank balance?
It hasn't been cleared by the bank, so you will have more money showing than you actually have.
It has no affect.
You will less money in your account.
You will be charged an outstanding check fee.
Who insures bank deposits?
Federal Deposit Insurance Corporation (FDIC)
National Credit Union Administration (NCUA)
Federal Reserve
U.S. Treasury Department
Who insures credit union deposits?
Federal Deposit Insurance Corporation (FDIC)
National Credit Union Administration (NCUA)
Federal Reserve
U.S. Treasury
