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Banking first 1/2 words

Total questions: 47

Worksheet time: 47mins

Name
Class
Date
1.
What do you need to withdraw cash from an ATM?
a)
Pin Number
b)
Debit Card
c)
Cash in your Account
d)
All of the Above
2.
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.
3.
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.
4.
The FDIC insures bank deposits in most banks up to a maximum of ____.
a)
$25,000
b)
$75,000
c)
$250,000
d)
$500,000
5.
The option of having paychecks deposited into an account by an employer is called a ____.
a)
Quick deposit
b)
Personal deposit
c)
Paycheck deposit
d)
Direct deposit
6.
The book in which a person keeps a record of the checks he or she has written and the deposits made is called a ____.
a)
Check register
b)
Balance book
c)
Checkbook
d)
Deposit book
7.
Each month, Hope receives her bank statement that includes copies of the checks that have cleared her checking account in that month. When her checks are presented for payment, they are stamped to show that her bank has paid the check. What are these checks called?
a)
Reconciled checks
b)
Covered checks
c)
Canceled checks
d)
Processed checks
8.

What method of payment should John use if he does not have transportation to pay in person, or does not want to go on-line or call each month to pay a bill?

a)

Check

b)

Automatic bill pay services

c)

Debit Card

9.
Put money into a bank account.
a)
withdraw
b)
deposit
c)
cash
d)
cheque
10.
The bank reconciliation proves 
a)
The bank statement and our checkbook are in agreement
b)
Our checkbook and our cash account in the ledger are in agreement
11.
The bank statement shows we have $800.  O/S checks is $40.  O/S deposits are $100.  Service Charge is $35.  Cash account balance should be?
a)
860
b)
740
c)
705
12.
The amount of the loan?
a)
rate
b)
time
c)
principal
d)
sales tax
13.
Something a bank or financial institution makes and charges you interest?
a)
time
b)
Loan
c)
rate
d)
sales tax
14.

a bank account that pays you interest for keeping your savings in it. Banks use your money to make loans, so they pay you interest for the use of your money

a)

Savings Account

b)

Bank Account

c)

Debit Account

d)

Expense Account

15.

How quickly an asset can be turned into cash

a)

Deposit

b)

Withdrawal

c)

Liquidity

d)

Loan

16.

refers to money borrowed to purchase a home.

a)

loan

b)

principal

c)

mortgage

d)

collateral

17.

property used to assure the payment of a loan.

a)

loan

b)

debt

c)

collateral

d)

expense

18.

things you pay money for (wants and needs).

a)

principal

b)

mortgage

c)

collateral

d)

expenses

19.

The best reason for depositing money in a bank or credit union savings account instead of keeping your money “under the mattress” is that

a)

It is insured.

b)

It earns interest.

c)

It is safer.

d)

It grows.

20.

The central banking system in the United States.

a)

Federal Reserve

b)

The U.S. Treasury

c)

The Mint

d)

First National Bank of the U.S.

21.

What is an ATM used for?

a)

Withdraw money

b)

Balance your checkbook

c)

Order checks

d)

Write checks

22.

The law that allows for electronic images of checks to be transmitted for processing in place of paper checks is

a)

Check 21

b)

Truth in Lending Law

c)

Murphy's Law

d)

Equal Opportunity Banking Law

23.

Which of the following services will you NOT be able to access while banking online?

a)

Withdraw cash

b)

Transfer funds

c)

Deposit checks

d)

Order checks

24.

Which business charges large fees to cash payroll and government checks to people who do not have a bank account?

a)

Check Cashing Centers

b)

Title Loan Centers

c)

Rent-a-Center

d)

Credit Unions

25.

What is money placed in a checking account called?

a)

Demand deposits

b)

Cash advance

c)

Investments

d)

Bonds

26.

What should you include when you are writing a check?

a)

Date, Payee, Amount, and Signature

b)

Amount, Payee, Signature, check number

c)

Endorsement, Amount, Signature

d)

Date, Amount, Signature

27.

What are direct deposit, electronic funds transfers, and automatic monthly payments features of?

a)

Electronic banking

b)

Check 21

c)

Functions of the Federal Reserve

d)

Pay yourself first

28.

Which of the following financial services is best suited for saving money over a period of years?

a)

Certificate of Deposit

b)

Checking Account

c)

Money Market Account

d)

Stocks

29.

What is obtaining cash from an ATM similar to?

a)

Writing a check

b)

Using credit

c)

Shopping online

d)

Online banking

30.

How does an outstanding check affect your bank balance?

a)

It hasn't been cleared by the bank, so you will have more money showing than you actually have.

b)

It has no affect.

c)

You will less money in your account.

d)

You will be charged an outstanding check fee.

31.

Who insures bank deposits?

a)

Federal Deposit Insurance Corporation (FDIC)

b)

National Credit Union Administration (NCUA)

c)

Federal Reserve

d)

U.S. Treasury Department

32.

Who insures credit union deposits?

a)

Federal Deposit Insurance Corporation (FDIC)

b)

National Credit Union Administration (NCUA)

c)

Federal Reserve

d)

U.S. Treasury

33.
A process by which banks designate an area within which they refuse to lend money for improvements to housing is:
a)
blockbusting.
b)
gentrification.
c)
filtering.
d)
redlining. 
34.
To sign the back of a check that is written to you.
a)
Check Register
b)
Endorse
c)
Signature Card
d)
Paycheck
35.
Used to keep track of the cash balance in a checking account
a)
Paycheck
b)
Interest
c)
Check Registry
d)
Travelers Check
36.
Works like a check and can be used to withdraw money from a bank
a)
Credit
b)
Stop payment
c)
Endorse
d)
ATM/Debit Card
37.
Many people can use this now, but must pay back later.
a)
Signature Card
b)
Paychecks
c)
Interest
d)
Credit
38.
Can be used to cancel a check that a person has already given someone
a)
Stop Payment
b)
Travelers check
c)
Interest
d)
Reconciliation
39.
Money that can be earned on a bank account
a)
Dollar amount
b)
Endorse
c)
Interest
d)
Reconciliation
40.
Used to make sure that other people cannot use someone else's bank account
a)
Check Register
b)
Signature Card
c)
Debit Card
d)
Type of account
41.
A form of money that can be replaced if lost or stolen
a)
Credit
b)
Debit
c)
Travelers Check
d)
Endorse
42.
To compare your bank statement to your check register
a)
Signature Card
b)
Reconciliation
c)
Stop payment
d)
Check Registry
43.
What do you need if you want to take money out of your bank account?
a)
Deposit Slip
b)
Travelers check
c)
Withdrawal Slip
d)
Check Registry
44.
The maximum amount the lender is willing to make available to the borrower.
a)
Credit Limit
b)
Credit History
c)
Creditor
d)
Debit Limit 
45.

The expense can fluctuate from month to month.

a)

fixed income

b)

insurance

c)

mortgage

d)

variable expense

46.

An expense that costs the same every month is called?

a)

variable expense

b)

fixed income

c)

fixed expense

d)

income

47.

Finance Company

a)

Stores money and loan money to individuals

b)

Loans money only to individuals

c)

Stores money only to individuals

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