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Worksheets

Checking, Online Banking, P2P

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

People who are unbanked are most likely to...

a)

Use a mobile banking app

b)

Receive a monthly statement of their transactions

c)

Deposit their checks at the ATM

d)

Pay for services that would be free if they had an account

2.

You can access (withdraw) the money in your checking account by...

a)

Using the cash grandma gave you to pay at the grocery store

b)

Paying bills with a pre-paid debit card

c)

Transferring money though your online account

d)

Using your credit card to buy a PS5

3.

Writing a check for a major purchase is safer than carrying a large amount of cash to the store.

a)

True

b)

False

4.

An agency of the federal government that insures bank deposits up to $250,000 is the

a)

FAA

b)

FDIC

c)

FIDC

d)

Fed

5.

Which card can access the funds in your checking account?

a)

Credit Card

b)

Debit Card

c)

Credit Card

d)

License

6.

Taking more money out of your account than is available​ is called?

a)

Overdraft

b)

Deposit

c)

Withdraw

d)

Balance

7.

Sometimes the bank will allow you to have a better checking account if you maintain this:

a)

Maximum Balance

b)

Minimum Balance

c)

Minimum Deposit

d)

Maximum Deposit

8.

FDIC coverage protects my money from fraudulent account activity

a)

True

b)

False

9.

If the bank changes their account agreement they must notify their account holders in writing (statement) prior to the change

a)

True

b)

False

10.

A P2P payment is

a)

A check from grandma for your birthday

b)

A transfer between two individuals

c)

A way to pay with my checking in a store

d)

Problems 2 Problems

11.

One way to deposit to my account is

a)

writing a check

b)

using my check card to purchase at a store

c)

using the mobile app to take a picture of the front and back of a check

d)

Withdrawing cash at a teller

12.

Overdraft coverage is a way to talk about what happens to a debit card transaction if I do not have a sufficient balance in the checking account, once I opt in or opt out I cannot make a change ever.

a)

True

b)

False

13.

If I Opt-In to allow overdrafts to happen with my debit card, it means more revenue for the bank if I make a mistake and overdraw by using my card

a)

True

b)

False

14.

If I Opt-Out of Overdraft Coverage, it means that I will not be able to make a transaction to overdraw my account with my debit card, even if I need the funds.

a)

True

b)

False

15.

If I opt-in for overdraft coverage, the bank will always cover my negative balance

a)

True

b)

False

16.

Select all of the ways that I can deposit funds into my checking account

a)

Direct deposit from employer

b)

P2P transaction from a friend

c)

Cash at the ATM

d)

Cash at the Teller

e)

Cash through the mobile app

17.

I deposited a paycheck from my first job today, when can I take out the funds?

a)

Right away

b)

Next Business Day

c)

Could be from 1-7 business days depending on the bank's schedule

d)

30 days

18.

Even though I may use online banking to keep track of my balance, it is still good to check the monthly statement because (select all):

a)

Verify withdrawals

b)

Verify deposits

c)

Ensure there are no bank fees

d)

Learn about upcoming account changes

e)

Learn about all bank products

19.

This is the name of the document to review to understand the possible fees on a checking account

a)

Statement

b)

Wire charge schedule

c)

Account Agreement

d)

Signature card

20.

Pertaining to checking alerts, all of the below are helpful EXCEPT:

a)

Setting them up at account opening

b)

Ignoring them

c)

Making the thresholds realistic

d)

Setting up alerts for low balance, direct deposit, and fraud activity