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Using a Checking Account

Total questions: 47

Worksheet time: 2hrs 34mins

Name
Class
Date
1.

Money added to a checking account is called a

a)

withdrawal

b)

deposit

c)

endorsement

d)

drawee

2.
Shannon makes a deposit in her checking account. She has checks for $178.16 and $36.00. She gets back $20.00 in cash.
What is her total deposit?
a)
$214.16
b)
$198.16
c)
$194.16
d)
$234.16
3.
To put money $$ in the bank, is called:
a)
WITHDRAWAL
b)
DEPOSIT
c)
INVEST
d)
WRITE A CHECK
4.
To take money OUT of your account, is called:
a)
WITHDRAWAL
b)
DEPOSIT
c)
TRUST
d)
STEAL
5.

Always use permanent ink when writing a check.

a)

True

b)

False

6.

Writing the dollar amount in both numbers and words makes your check more secure.

a)

True

b)

False

7.

$21.50 + $3.55

a)

$21.85

b)

$25.05

c)

$23.45

d)

$24.45

8.

$13.85 - $10.87

a)

$2.98

b)

$4.56

c)

$24.72

d)

$24.72

9.

$123.45 - $12.35

a)

$111.10

b)

$111.80

c)

$135.80

d)

$135.80

10.

Sally goes to the bank. She puts her babysitting money in her account. Sally has made a

a)

Deposit

b)

Withdrawal

11.

Katie goes to the bank. She takes money out of her account. Katie has made a

a)

Deposit

b)

Withdrawal

12.

How much is the check worth?

a)

$5

b)

$50

c)

$500

d)

$0

13.
The balance in your account is $500.  You then deposit $23 into your account.  What is your new balance?
a)
$500
b)
$477
c)
$523
d)
$23
14.
The bank issued card that deducts money directly from the checking account is
a)
debit card
b)
credit card
c)
savings account
d)
money market
15.
The number of a checking account is also known as the:
a)
Pin Number
b)
Social Security Number
c)
Routing number
d)
Account Number
16.
A common financial service used by many consumers.  They can help to manage money and make paying bills more convenient.
a)
Reconciling
b)
Check
c)
Checking Account
d)
PIN
17.
Used to withdraw cash or make deposits.
a)
Debit card
b)
PIN
c)

ATM (Automated Teller Machine)

d)
Check register
18.
Debit cards require using this to access the account to perform transactions.
a)
ATM
b)

PIN (Personal Identification Number)

c)
Check register
d)
Checking account
19.

Using a PIN (Personal Identification Number) is optional when using a debit card.

a)
True
b)
False
20.

monthly BANK report that states your transactions and balance

a)

WALL STREET JOURNAL

b)

BANK STATEMENT

c)

SCHOOL STAEMENT

d)

CHECKING REPORT

21.
when your employer automatically deposits your paycheck into your bank account
a)
DEPOSIT
b)
PAYROLL CHECK
c)
ATM
d)
DIRECT DEPOSIT
22.

The amount of money in your account

a)

Deposit

b)

Benjamins

c)

Balance

d)

Dollars

23.
to put money $$ in the bank
a)
WITHDRAWAL
b)
DEPOSIT
c)
INVEST
d)
WRITE A CHECK
24.
to take money OUT of your account
a)
WITHDRAWAL
b)
DEPOSIT
c)
TRUST
d)
STEAL
25.

The phrase used for putting money into a bank (or credit union) account is:

a)
Verifying the account
b)
Balancing the account
c)
Making a deposit
d)
Making a withdrawal
26.
Monthly statement fee, ​Per check fee, and ​Debit card (ATM) fee are examples of what?​
a)
Charges
b)
Credits
c)
Service Fees
d)
Debits
27.
Required amount of money in account
a)
Maximum Balances
b)
Minimum Balance
c)
Minimum Deposit
d)
Maximum Deposit
28.
Fee for sending money electronically from another bank
a)
Service Fee
b)
Overdraft Fee
c)
Late Fee
d)
Wire Transfer Fee
29.
Amirah is going to college and will not be able to visit her home bank very often. She needs a way to access her money and track what she spends.
a)
personal loan
b)
debit card
c)
online banking
30.

To use an online bank account you will need access to...

a)

An ATM

b)

The high street branch

c)

A mobile phone

d)

The Internet

31.

When you use an online bank account the data that leaves your computer is usually ....

a)

Embossed

b)

Encracked

c)

Encrypted

32.

Which of the following questions is NOT available with online banking?

a)

Transfer cash between accounts

b)

Cash withdrawal

c)

Order bank statements

d)

Set up direct debits

33.

ATM stand for.....

a)

Assisted Training Machine

b)

Automated Teller Machine

c)

Assisted Transfer Machine

d)

Automatic Teller Machine

34.

Online bank accounts are available...

a)

During office hours

b)

Until midnight

c)

Monday to Friday

d)

24 hours a day

35.

Your debit card is stolen, and you report it to your bank within two business days. How much money can you lose at most?

a)

$25

b)

$50

c)

$150

d)

$500

36.

Choose the best answer:


What makes mobile banking somewhat less secure than regular online banking?

a)

Mobile devices can be lost or stolen more easily than a computer, such as a laptop.

b)

Unlike with computers, mobile banking apps store personal financial information and share it with other apps.

37.

Identify which documents Max needs to open a bank account.


Max wants to open a basic checking account at his local bank. He needs to bring his _________________ and ________________, along with a $50 deposit, to open the account.

a)

high school diploma; car insurance

b)

employment certificate; student ID card

c)

mom; dad

d)

Social Security card; driver’s license

38.

Choose all that apply.


Identify the benefits of online banking:

a)

Consumers can seek

specialized financial

advice from bank employees.

b)

Consumers can get paperless

bank statements instantly.

c)

Consumers have the convenience

of electronic deposits and

money transfers.

d)

Consumers can use the

bank’s notary services.

39.

Match the account type with its description.


basic checking account

a)

pays higher interest than a savings account

b)

restricts access to funds through withdrawals

c)

does not earn interest and has a low minimum

balance requirement

40.

Which card can access the funds in your checking account?

a)

Credit Card

b)

Debit Card

c)

Credit Card

d)

License

41.

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

a)

Overdraft

b)

Deposit

c)

Withdraw

d)

Balance

42.

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

43.

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

44.

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

a)

True

b)

False

45.

When the bank pays a transaction for you because you don't have enough money in your account it's called an........

a)

withdrawal

b)

overdraft

c)

bank

d)

income

46.

I have to pay this when I do not follow the rules of the bank.....

a)

withdrawal

b)

fee

c)

overdraft

d)

deposit

47.

Orrin had $541.06 in his checking account. He writes a check to his landlord for $560.00. If he does not put more money into his account before his landlord deposits the check, this will result in which of the following fees?

a)
overdraft fees
b)
service fees
c)
atm fees

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