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WorksheetsBanking Products and Services
Total questions: 16
Worksheet time: 8mins
What is the ONLY thing you cannot do within a checking account?
make deposits
invest in stocks
write checks
withdraw money
The card you use to both access funds in your bank account and pay for goods and services is:
a credit card
a birthday card
a gift card
a debit card
Writing a check is the same thing as:
making a withdrawal
getting the bank to issue a cashier's check
using a debit card
using a credit card
What can I NOT do with a debit card?
withdraw money at an ATM
deposit money at an ATM
transfer money from one of my accounts to another
transfer money to another person's account
If I use my debit card for a purchase, I have to put in my PIN number. If I want to use my debit card for a credit purchase, I have to:
also use my PIN number
sign a sales slip
use a different card
provide additional ID
When I use my debit card, the money is almost immediately taken from my account.
true
false
If I have an account and a debit card, the financial institution will automatically issue me a credit card, too.
true
false
An advantage of having a savings account is that the funds are immediately available when I need them.
true
false
An advantage of a savings account is that the interest rate is high.
true
false
The contents of a safety deposit box are not insured by the FDIC, but banks can offer insurance if the items are lost or destroyed.
true
false
When I write a check for more than I have in the bank it is called:
a felony
an overdraft
a fee
grounds for closing my account
Overdraft protection means if I write a check for more than I have in the account, the bank will cover the check and I don't have to pay them back.
true
false
If I pay someone by check for a chair and it turns out to be damaged, I can refuse to pay by requesting the bank put a stop payment order on it.
true
false
A cashier's check is NOT
guaranteed by the bank
purchased from the bank
used to make a payment
able to bounce (be returned for nonpayment)
A certified check is a personal check that is: (choose 3)
stamped certified by a bank official
guaranteed as being covered by the money in my account.
only deliverable by the bank
immediately deducted from my account, making those funds unavailable.
I must have a checking or savings account to get a money order.
true
false
