WorksheetsChecking and Banking
Total questions: 20
Worksheet time: 14mins
A demand deposit account on which checks are drawn.
A. savings account
B. checking account
C. CD
D. money market account
Both C and D
Writing a check for a major purchase is safer than than carrying a large amount of cash to the store.
True
False
An agency of the federal government that insures bank deposits up to $250,000 is the
FAA
FDIC
FIDC
Fed
Writing a check for a major purchase
A. is safer than paying for it with cash
B. will give you an additional paper trail of the transaction
C. would be similar to paying for it with a credit card
Both A and B
All of the above
A document that provides an official signature that the bank can compare the one on a check is the
check register
deposit slip
signature card
bank draft
A tool used to track checking account transactions is a
deposit slip
debit card
checkbook register
certified check
Money added to a checking account is called a
withdrawal
deposit
endorsement
drawee
Which of the following is the best way to keep track of your check balance?
A. reconciling your bank statement each month
B. solely relying on checking your balance online
C. checking your balance by calling the bank daily
D. checking your balance at an ATM when you make a deposit
Both C and D
The bank from which funds are drawn is called the
payee
drawee
drawer
payer
The person or company you are directing the Bank to pay with your check is the
payee
drawee
payer
drawer
A check written with a date that will occur in the future is a
A. pre-dated check
B. post-dated check
C. voided check
D. cashier's check
All of the above
This is used to withdraw or deduct money from your checking account.
A. credit card
B. debit card
C. ATM card
Both B and C
Both A and B
Similar to a debit card, but its use is limited to withdrawals & deposits at Automated Teller Machines
Credit card
PIN card
POS card
ATM card
The act of signing another person's name on a check is
A. check fraud
B. forgery
C. tampering
D. legal if the person is authorized to do so
Both A and C
When used this restricts or limits the use of a check per the instructions you write on its back :
blank endorsement
special endorsement
restrictive endorsement
full endorsement
The drawer issues a check to the payee, who then endorses it and gives it to someone else to cash.
EFT
restrictive check
third-party check
fully endorsed check
Using a computer based system to transfer money from the drawer's account to the payee's account.
Payroll deduction
ATM
Data warehousing
Electronic funds transfer
The process of comparing and adjusting one's checkbook balance to agree with the bank's is
Checkbook registering
Bank reconciliation
Endorsing
Withdrawing
Deposits you made that have yet to appear on your bank statement are called
debit charges
deposits in transit
outstanding withdrawals
bank charges
A canceled check is a
request that the bank not honor a specific check
personal check the bank guarantees to be good
check written by the bank on its own funds
check that cleared your account.
