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WorksheetsPBMF - Checking Accounts Quiz
Total questions: 19
Worksheet time: 10mins
A check requires an endorsement. Who endorses the check?
the bank
the payee
On a check, who is the party who wrote the check?
payee
drawer
drawee
What can you do with online banking?
check account balances
transfer money
pay bills
all of the above
What kind of checking account allows two people to write checks for the same account?
regular checking account
joint account
interest-bearing account
When you write a check, where should you immediately record the transaction?
on some scrap paper
in your check register
nowhere
What allows electronic transfer payments from a payer's account to the account of the person being paid?
direct deposit
signature card
debit card
A(n) _____________ ___________ is used by the bank to verify your identity.
demand deposits
signature card
bank statement
bank reconciliation
The process of seeing whether your records agree with the bank's records for your account is called __________ _________________.
bank reconciliation
demand deposits
check register
overdraft protection
Checks that have been written but haven't yet reached the bank are ________________ ______________.
outstanding checks
check register
canceled checks
signature card
Checking accounts are often called ___________ ___________ because each check a customer writes and signs is an order to the bank to release specified amount.
demand deposits
canceled checks
bank reconciliation
overdraft protection
The ______________ is necessary for cashing a check.
overdrawing
debit card
bank statement
endorsement
The _________ _____________ is the section of your checkbook where you keep track of all your transactions.
check register
signature card
bank statement
canceled checks
A prearranged line of credit for overdrawn checks is called _____________ ______________.
overdraft protection
demand deposits
check register
stop payment
A(n) ___________ ______________ earns interest on the balance left in the account.
interest-bearing account
debit card
canceled checks
bank statement
______________ is when you write a check for more money than there is in your checking account.
Overdrawing
Endorsement
Stop payment
Overdraft protection
A(n) ________ ___________ orders the bank not to cash a particular check.
stop payment
overdraft protection
check register
signature card
A(n) ___________ __________ is like using a credit card but money is deducted directly from a checking account rather than a credit account.
debit card
signature card
check register
bank statement
A bank's record of all the transactions in a checking account is called a(n) _____________ ________________.
bank reconciliation
bank statement
check register
canceled checks
_________ __________ are checks that are written that have been cashed.
Canceled checks
Outstanding checks
Bank reconciliation
Bank statement
