WorksheetsBanking Review
Total questions: 27
Worksheet time: 16mins
What is a benefit of a checking account?
Safely store your money
Earn interest
Federal Reserve
Don't have to use debit cards
When was the Federal Reserve created?
1813
1910
1913
1810
What is the main function of the federal reserve?
always print money for the American Government
to provide a currency system for all citizens
to provide a stable/flexible financial system
to support the U.S. Government
What caused the creation of the Federal Reserve?
American currency lost worth and people sold all their cash
People panicked and lost faith in local banks
Banks stole money from people
People panicked and started converting cash into debit
What is a benefit unique to a SAVINGS account?
Ability to store money
Ability to solve debt
Ability to use for daily expense
Ability to earn interest
What is usually limited on a SAVINGS account?
number of withdrawals
amount of money
items you can purchase
number of deposits
What is a DEPOSIT?
taking money out of an account
adding money to an account
changing accounts
transferring money between accounts
What should you use to write a check?
Pen
Pencil
Crayon
Marker
Who signs the bottom of a check?
The Bank
The Recipient
The Payee
Nobody
What is a WITHDRAWAL?
going without an account
adding money to an account
transferring money between accounts
taking money out of an account
What information goes in the TOP LEFT of a check?
Recipient Number & Address
Payee Name & Address
Recipient Name & Address
Payee Number & Address
Is this a correct way to write the amount?
Twelve dollars and 51/100 -------
Yes
No
What do you write on the WRITTEN DOLLAR AMOUNT when there are no cents?
IF
NO CENTS
ONLY
ZERO
Which type of account goes with a Debit Card?
Savings
Credit
Loan
Checking
Which type of account uses YOUR money?
Savings
Checking
Loan
Insurance
What order are the numbers in, at the bottom of a check?
Routing#, Check#, Account#
Account#, Routing#, Check#
Check#, Routing#, Account#
Routing#, Account#, Check#
Which type of card means you're borrowing money you don't have?
Savings Card
Debit Card
Credit Card
Coupons
What is the FEE a bank charges you, when you borrow money?
Account Fee
Interest
Rent
Security Deposit
How long after you purchase an item, do you have until you start getting charged INTEREST?
30 DAYS
10 DAYS
2 MONTHS
7 YEARS
Which of the following is NOT a type of checking account?
Premium
Joint
Dual
Student
What is the Routing Number?
Electronic address for the bank
Electronic address for your account
Address for the checking company
Which type of checking account allows two people to both own the account?
Student
Joint
Dual
Two
What is another name for the Federal Reserve?
The Fed
The Reserve
US Bank
Bank of America
Financial experts recommend having the savings to cover how many months of bills?
6-12
3-6
1-3
3-4
The Federal Reserve must request permission from Congress before making a decision.
True
False
A Savings Account is the best place to keep unneeded money.
True
False
ATM stands for Automatic Ticket Machine
True
False
