WorksheetsChecking Account Quiz
Total questions: 21
Worksheet time: 42mins
1. Read this scenario, then select the best answer to this question.
Zamora is opening her first checking account. She is a senior in high school and works part-time at the local mall. Zamora is paid twice a month on the 1st and 15th of each month. She is responsible for paying her car insurance each month and usually cashes her checks and spends her money on gas, new clothes and entertainment. She also wants to start saving some money to help out with future college expenses.
1. Which of the following checking account options would be best for Zamora's situation?
A. Option 1: Free checking account with a per transaction charge for checks and ATM withdrawals
B. Option 2: Checking account with a $500 minimum balance requirement
C. Option 3: Free checking and savings account with a combined low minimum balance requirement of $100
D. Option 4: Checking account with a set monthly maintenance fee of $20
2. When selecting a checking account which of the following questions should you ask?
A. What is the minimum opening balance?
B. Is there a monthly service charge?
C. Does the account include overdraft protection?
D. All of the above
3. What is postdating a check?
A. When you write a past date on a check instead of the current date
B. When you write a future date on a check instead of the date the check is being written
C. When you write any date on a check because you do not know the actual date
D. When you illegally write the wrong date on your check
4. When writing a check, which of the following should you do?
A. Leave the Payee/Pay to the Order of field blank
B. Post-date the check to delay having the money deducted from your account
C. Write the check in pencil because you did not have a pen
D. Always double-check the information on the check before submitting it for payment
5. What is an ATM card?
A. Enables you to withdraw cash from your account
B. Enables you to check your account balance
C. Enables you to make a deposit
D. All of the above
6. To prevent theft, which of the following should you do?
A. Never carry your PIN or write it on your ATM or debit card
B. Never sign a blank credit or debit slip
C. Never give out your account number or PIN over the phone
D. All of the above
7. What is FDIC?
A. Insures deposits in banks
B. Provides 24/7 access to your account
C. Deposits money in your account
D. Withdraws money from your account
8. Which of the following can you usually do at an ATM location?
A. Withdraw cash
B. Make deposits
C Transfer money
D. All of the above
9. When writing a check, which of the following should you NOT do?
A. Double-check information to ensure it is correct
B. Write check in pencil so you can correct mistakes
C. Write clearly and legibly when writing numbers
D. Start at the beginning of the line when writing the amount
10. Which of the following is NOT a part of a check?
A. Check amount
B. Signature line
C. Deposit amount
D. Payee
11. Review this check, then select the best answer to this question. What is wrong with this check?
A. The date the check was written is missing.
B. The $ number amount does not match the written word amount.
C. The signature is missing.
D. Nothing, the check is correct.
12. Non-sufficient funds in the account to cover a check
A. Bounced Check
B. Cancelled Check
C. Check
D. Checkbook Register
13. Tells the bank to not process a check that has been written
A. Stop Payment Order
B. Voided Check
C. Stale Check
D. Outstanding Check
14. A check you mark through because you made a mistake writing it
A. Outstanding Check
B. Postdated Check
C. Stale Check
D. Voided Check
15. To take money out of the bank
A. Deposit
B. Overdraw
C. Withdraw
D. Balance
16. A debit card
A. is the same as a credit card.
B. charges interest on all transactions.
C. is the same as a check, only in a plastic form.
D. is similar to a check, but delays payments like a credit card.
17. Deposits represent
A. money that is subtracted from your checking account.
B. money that is available in your checking account.
C. money that is added to your checking account.
D. purchases made with a debit card.
18. Every check that you write needs:
A. Signature
B. Date
C. Amount written in words and numbers
D. All of the above
19. This account allows you to deposit money at a bank for safekeeping
A. Saving Account
B. Checking Account
C. Bill Account
D. Casino Account
20. This is a written request to your bank to take money from your account & pay it to someone else.
A. Check
B. Telephone Call
C. Text
D. Email
What is the purpose of endorsing a check?
To determine who owns the check
To instruct the teller what to do with the check
To determine who wrote the check
To ensure it is not stolen
