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PBMF - Checking Accounts Quiz

Total questions: 19

Worksheet time: 10mins

Name
Class
Date
1.

A check requires an endorsement. Who endorses the check?

a)

the bank

b)

the payee

2.

On a check, who is the party who wrote the check?

a)

payee

b)

drawer

c)

drawee

3.

What can you do with online banking?

a)

check account balances

b)

transfer money

c)

pay bills

d)

all of the above

4.

What kind of checking account allows two people to write checks for the same account?

a)

regular checking account

b)

joint account

c)

interest-bearing account

5.

When you write a check, where should you immediately record the transaction?

a)

on some scrap paper

b)

in your check register

c)

nowhere

6.

What allows electronic transfer payments from a payer's account to the account of the person being paid?

a)

direct deposit

b)

signature card

c)

debit card

7.

A(n) _____________ ___________ is used by the bank to verify your identity.

a)

demand deposits

b)

signature card

c)

bank statement

d)

bank reconciliation

8.

The process of seeing whether your records agree with the bank's records for your account is called __________ _________________.

a)

bank reconciliation

b)

demand deposits

c)

check register

d)

overdraft protection

9.

Checks that have been written but haven't yet reached the bank are ________________ ______________.

a)

outstanding checks

b)

check register

c)

canceled checks

d)

signature card

10.

Checking accounts are often called ___________ ___________ because each check a customer writes and signs is an order to the bank to release specified amount.

a)

demand deposits

b)

canceled checks

c)

bank reconciliation

d)

overdraft protection

11.

The ______________ is necessary for cashing a check.

a)

overdrawing

b)

debit card

c)

bank statement

d)

endorsement

12.

The _________ _____________ is the section of your checkbook where you keep track of all your transactions.

a)

check register

b)

signature card

c)

bank statement

d)

canceled checks

13.

A prearranged line of credit for overdrawn checks is called _____________ ______________.

a)

overdraft protection

b)

demand deposits

c)

check register

d)

stop payment

14.

A(n) ___________ ______________ earns interest on the balance left in the account.

a)

interest-bearing account

b)

debit card

c)

canceled checks

d)

bank statement

15.

______________ is when you write a check for more money than there is in your checking account.

a)

Overdrawing

b)

Endorsement

c)

Stop payment

d)

Overdraft protection

16.

A(n) ________ ___________ orders the bank not to cash a particular check.

a)

stop payment

b)

overdraft protection

c)

check register

d)

signature card

17.

A(n) ___________ __________ is like using a credit card but money is deducted directly from a checking account rather than a credit account.

a)

debit card

b)

signature card

c)

check register

d)

bank statement

18.

A bank's record of all the transactions in a checking account is called a(n) _____________ ________________.

a)

bank reconciliation

b)

bank statement

c)

check register

d)

canceled checks

19.

_________ __________ are checks that are written that have been cashed.

a)

Canceled checks

b)

Outstanding checks

c)

Bank reconciliation

d)

Bank statement