WorksheetsBanking Terms
Total questions: 72
Worksheet time: 6hrs 0mins
Name
Class
Date
1.
monthly report that states your transactions and balance
a)
WALL STREET JOURNAL
b)
BANK STATEMENT
c)
SCHOOL STAEMENT
d)
CHECKING REPORT
2.
type of account that pays little to no interest, write checks from this account
a)
CHECKING
b)
SAVINGS
c)
CD
d)
CHRISTAMAS
3.
a card you use to withdraw money at an ATM or to pay at a store
a)
CREDIT CARD
b)
CHECK
c)
DEBIT CARD/ATM CARD
d)
ID CARD
4.
when your employer automatically deposits your paycheck into your bank account
a)
DEPOSIT
b)
PAYROLL CHECK
c)
ATM
d)
DIRECT DEPOSIT
5.
the # assigned to your bank account
a)
BUSINESS NUMBER
b)
ACCOUNT NUMBER
c)
SCHOOL NUMBER
d)
PHONE NUMBER
6.
bank machine you use to make transactions
a)
ATM
b)
TYPEWRITER
c)
COIN COUNTER
d)
BANK TELLER
7.
the amount of money in your account
a)
DEPOSIT
b)
BENJAMINS
c)
BALANCE
d)
DOLLARS
8.
person who works at the bank and completes your transaction
a)
BANK TELLER
b)
PRESIDENT
c)
SECURITY GUARD
d)
LOAN SHARK
9.
to put money $$ in the bank
a)
WITHDRAWAL
b)
DEPOSIT
c)
INVEST
d)
WRITE A CHECK
10.
to sign the back of a check
a)
SIGNATURE
b)
X IT
c)
BANK TELLER
d)
ENDORSE
11.
money the bank pays you for saving your money there
a)
INTEREST
b)
LOAN
c)
CREDIT
d)
SERVICE FEE
12.
an account you share with a family member
a)
FAMILY ACCOUNT
b)
JOINT ACCOUNT
c)
INDIVIDUAL ACCOUNT
d)
CHECKING ACCOUNT
13.
the LEAST AMOUNT of money you need to keep in your account so you don't get a fee.
a)
MINIMUM BALANCE
b)
MAXIMUM BALANCE
c)
$5
d)
$100
14.
when you spend more, or OVER, the amount you have in the bank
a)
$5
b)
$10
c)
OVERDRAWN/INSUFFICIENT FUNDS/
BOUNCED CHECK
BOUNCED CHECK
d)
SUFFICIENT FUNDS
15.
type of account that pays interest, no checks
a)
SAVINGS
b)
CHECKING
c)
INTEREST
d)
MORTGAGE
16.
money the bank charges you for a service
a)
DEBIT
b)
LOAN
c)
INTEREST
d)
SERVICE CHARGE/FEE
17.
any action between you and the bank
a)
LOAN
b)
GAME
c)
TRANSACTION
d)
BANK STATEMENT
18.
to take money OUT of your account
a)
WITHDRAWAL
b)
DEPOSIT
c)
TRUST
d)
STEAL
19.
How is the amount written on a check?
a)
IN WORDS
b)
IN NUMBERS
c)
IN WORDS AND NUMBERS
d)
IN $$$ SIGNS
20.
How many places are the check number written on a check?
a)
2
b)
3
c)
4
d)
5
21.
Debit Card
a)
Used to add money to your bank account.
b)
Used to take out money from your bank account.
c)
The same as a credit card.
22.
Transaction
a)
Adding or subtracting money from your bank account.
b)
Another word for paycheck.
c)
Interest earned on your bank account.
23.
Donation
a)
Something you give to a charity.
b)
Money you get from working.
c)
Money you pay for taxes.
24.
Spending
a)
Money earned from working.
b)
Money that goes towards wants and needs.
c)
Working overtime.
25.
ATM Machine
a)
Another word for a vending machine.
b)
A machine that gives away free money.
c)
A machine where you can withdraw money from your bank account.
26.
Bill
a)
Money that is owed to you.
b)
Money that you owe (usually monthly).
c)
Your paycheck.
27.
Earnings
a)
Money given to you for working.
b)
Money spent on bills.
c)
Another word for taxes.
28.
Expenses
a)
Money given to you for working.
b)
Money spent on wants and needs.
c)
Another word for taxes.
29.
Withdrawal
a)
Adding money to your bank account.
b)
Taking money out of your bank account.
c)
Earning a paycheck.
30.
Deposit
a)
Adding money to your bank account.
b)
Taking money out of your bank account.
c)
Earning a paycheck.
31.
My family is going on vacation this summer, so we are sticking to a ______ to save money.
a)
Income
b)
Savings
c)
Budget
d)
Expenses
32.
When I use my debit card at the store, the money is automatically taken out of my ______ account.
a)
Savings
b)
Checking
c)
Inflation
d)
Withdraw
33.
When getting a loan for a car, the ____ is an additional fee you will have to pay back.
a)
Fixed Expense
b)
Discretionary Expense
c)
Inflation
d)
Interest
34.
It is safer to keep your money here than at home under your mattress.
a)
Balance
b)
Want
c)
Inflation
d)
Bank
35.
Many famous people don't spend their money wisely and end up in ______.
a)
Interest
b)
Withdraw
c)
Inflation
d)
Bankruptcy
36.
When you are making payments on a car and/or house you have a _____.
a)
Withdraw
b)
Bankruptcy
c)
Debt
d)
Overdraw
37.
Income = ______ + Savings
a)
Needs
b)
Wants
c)
Expenses
d)
Discretionary
38.
At the end of the month, the money I haven't spent is ________.
a)
Spent quickly
b)
Income
c)
Savings
d)
Expenses
39.
An 8th grader makes and sells earrings as a way to earn extra money. The money she gets is considered _______.
a)
Needs
b)
Wants
c)
Income
d)
Expenses
40.
When there is a fundraiser at school, it is much easier to pay with a _____ instead of handing a student cash or my credit card information.
a)
Overdraw
b)
Withdraw
c)
Check
d)
Savings
41.
You should keep track of your spending because if you spend more money than you have in your bank account it is considered a _______ and usually will cause a fee.
a)
Balance
b)
Withdraw
c)
Bankruptcy
d)
Overdraw
42.
You should keep track of your spending because if you spend more money than you have in your bank account it is considered a _______ and usually will cause a fee.
a)
Balance
b)
Withdraw
c)
Bankruptcy
d)
Overdraw
43.
We are planning to go on vacation next summer, so I transfer money every month to my ______ account.
a)
Discretionary Expense
b)
Checking
c)
Savings
d)
Variable Expense
44.
When I need to ______ money from my checking account, I can use my debit card at an ATM.
a)
Overdraw
b)
Inflation
c)
Balance
d)
Withdraw
45.
Currency is another word for
a)
Money
b)
A check
c)
Credit
d)
A loan
46.
When you sign the back of your check
a)
Clearing check
b)
Endorsing check
c)
Fronting check
d)
Depositing check
47.
Borrowing money on the promise you'll pay it back later.
a)
Debit
b)
Currency
c)
Credit
d)
Compound Interest
48.
Money put into an account.
a)
Deposit
b)
Withdraw
49.
the amount paid by a borrower to a lender for the privilege of borrowing the money
a)
Interest
b)
Credit
c)
Debt
d)
Loan
50.
the act of taking money out of an account
a)
interest
b)
deposit
c)
withdrawal
d)
loan
51.
This is the what you call the amount of money you deduct from an account when you spend it
a)
Debit
b)
Credit
c)
Loan
d)
Collateral
52.
This is a document that you write out that tells the bank to take money out of your account and give it to someone else
a)
Credit
b)
Debit
c)
Check
d)
Charge
53.
"Clear" means
a)
You do not have an interest fee on your credit card
b)
Your bank account is out of money and your debit card won't work
c)
Your credit rating is approved
d)
That the money was taken out of your account and given to person you wrote check to.
54.
This is the government agency that regulates the banking industry
a)
Banking Association of America
b)
America Credit Bureau
c)
Trump's Money Agency
d)
Federal Reserve
55.
This is when a bank loans you money to buy property (a house or condo)
a)
Credit
b)
Mortgage
c)
Interest
d)
Loan
56.
When you write a check for more money than you have in the back account.
a)
Liability
b)
Interest
c)
Demand Deposit
d)
Overdraft
57.
You pay interest on a credit card
a)
Every month - no matter what
b)
Only if you don't pay your bill in full
c)
If you used it to buy anything that month
d)
You don't have to pay interest - the money comes out of your bank account
58.
Taking more money out of your account than is available is called?
a)
Overdraw
b)
Deposit
c)
Withdraw
d)
Balance
59.
What is one difference between Banks and Credit Unions?
a)
Banks have Checking accounts and Credit Unions have Savings Accounts
b)
Banks are for profit. Credit Unions are Non-profit.
c)
Banks can give loans and Credit Unions cannot
d)
Credit Unions allow everyone to join and Banks are selective
60.
What is the amount of money required to be stay in an account?
a)
Maximum Balance
b)
Minimum Balance
c)
Minimum Deposit
d)
Maximum Deposit
61.
What agencies insure banks and credit unions?
a)
IRS and DHS
b)
DHS and FDIC
c)
FDIC and NCUA
d)
NCUA and FICA
62.
You should keep your pin number in your wallet.
a)
True
b)
False
63.
What is the name of a legal document that functions like cash?
a)
Check
b)
ATM
c)
Deposit slip
d)
PIN
64.
When do you have to sign a deposit slip?
a)
When you receive cash back
b)
When you deposit any amount of cash
c)
When you deposit more than $100
d)
When you deposit more than $10,000
65.
What do you call the process of bringing your checkbook register into agreement with the bank statement?
a)
Withdrawal
b)
Deposit
c)
Reconciliation
d)
Endorsement
66.
How do financial institutions make most of their money?
a)
Fees
b)
Interest
c)
Mutual Funds
d)
Loan Payments
67.
The tools and strategies the Federal Reserve uses to stabilize the economy is called?
a)
Fiscal Policy
b)
Monetary Policy
c)
Tight Money
d)
Easy Money
68.
How many federal reserve districts are there?
a)
5
b)
10
c)
12
d)
21
69.
How many Board of Governor members are there?
a)
3
b)
5
c)
7
d)
12
70.
Banks create money by taking in deposits, making _______, and charging _______.
a)
interest, payments
b)
loans, interest
c)
payments, loans
d)
debt, loans
71.
What type of endorsement is the most secure?
a)
Blank Endorsement
b)
Restrictive Endorsement
c)
Endorsement in Full
d)
Full Endorsement
72.
If you make an error on a check, what should you do?
a)
Void the check and write a new one
b)
Make corrections and initial the change
c)
Use whiteout to fix the error
d)
Throw the check away and write a new one
100 %
