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Money Managment Basics

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

Credit union and bank accounts are insured up to $250K per depositor.

a)

True

b)

False

2.

It isn’t necessary to record your transactions in a check register because you can check your account balance online.

a)

True

b)

False

3.

The term “balance your checkbook” means to take all of the receipts in your wallet and record them in your check register

a)

True

b)

False

4.

Since most transactions are carried out with debit cards, it is not necessary to reconcile between your bank statement and your checkbook each month.

a)

True

b)

False

5.

Maintaining a system of thorough record keeping is essential for sound money management.

a)

True

b)

False

6.

Balancing your checkbook will help you to detect errors in your checkbook.

a)

True

b)

False

7.

Since banks and credit unions use elaborate software and computer systems, it is impossible for a bank or credit union to make mistakes when handling customer accounts.

a)

true

b)

false

8.

In making hiring decisions, some employers pull the credit history of job candidates.

a)

true

b)

fasle

9.

When people do not own a checking account, they have more control over their money.

a)

true

b)

false

10.

Consistently saving a small sum of money on a regular basis will not yield much of a result.

a)

true

b)

false