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WorksheetsChecking Accounts
Total questions: 30
Worksheet time: 19mins
In a way, a check is like a
credit.
deposit
penalty
request/contract
Orrin had $541.06 in his checking account, and a check that he wrote to his landlord for $560.00 was just deposited. This will result in which of the following fees?
Overdraft Fees
Service Fees
ATM Fees
Check Fees
Commercial banks, such as Wells Fargo and Sun Trust, have which type of insurance for banking customers?
SIPC, up to $250,000
NCUA, up to $250,000
NAACP, up to $250,000
FDIC, up to $250,000
Hailey's bank is FDIC Insured. What is the benefit to Hailey?
She can use her bank card at any bank, nationwide, without incurring a fee
If Wanda’s bank goes out of business, she will receive all of her money back from her accounts up to $250,000
She will receive a debit card and a checkbook she can use to make purchases
If she makes a purchase with her debit card and the item breaks, she’ll get a full refund
Two benefits of having a checking account are safety and convenience. Which of the following statements is FALSE?
If you have a checking account, you won't need to carry as much cash with you
With a checking account, you have several options for how to pay bills
In order to shop online, you must use a debit card
You can cash checks for free when you cash your paycheck at your bank
Another name for an overdraft fee is non-sufficient funds.
true
false
A(n) _____________ ___________ is used by the bank to verify your identity.
demand deposits
signature card
bank statement
bank reconciliation
The process of seeing whether your records agree with the bank's records for your account is called __________ _________________.
bank reconciliation
demand deposits
check register
overdraft protection
Checks that have been written but haven't yet reached the bank are ________________ ______________.
outstanding checks
check register
canceled checks
signature card
A(n) ______________ is necessary for cashing a check.
overdrawing
debit card
bank statement
endorsement
The _________ _____________ is the section of your checkbook where you keep track of all your transactions.
check register
signature card
bank statement
canceled checks
_________ __________ are checks that are written that have been cashed.
Canceled checks
Outstanding checks
Bank reconciliation
Bank statement
What is one of the three check endorsements?
Restrictive Endorsement
Straight Endorsement
Full Endorsement
Name Endorsement
What is the safest endorsement to use on a check?
Blank
Restrictive
Special
Full
