WorksheetsSVTC - PF Types of Bank Accounts
Total questions: 15
Worksheet time: 15mins
Name
Class
Date
1.
A financial institution that gives loans and accepts deposits
a)
Bank
b)
Joint account
c)
ATM
d)
Account
2.
An agreement with a bank whereby you may deposit and withdraw money
a)
Bank
b)
Account
c)
Interest
d)
ATM
3.
An account that you can write checks and use a debit card with
a)
Savings account
b)
Joint account
c)
Checking account
4.
A type of account that has two or more people on it
a)
Savings account
b)
Joint account
c)
Checking account
5.
Money that you put in the bank and do not spend except for emergencies
a)
Savings acount
b)
Joint account
c)
Checking account
6.
The smallest amount of money needed to open an account
a)
Teller
b)
Interest
c)
Fees
d)
Minimum deposit
7.
A check has "bounced" when no overdraft occurs and the check has been returned.
a)
True
b)
False
8.
It is a good idea to use a pencil when writing checks so you can erase any mistakes.
a)
True
b)
False
9.
It is a good practice to postdate checks so they can be cashed on a future date.
a)
True
b)
False
10.
A certified check is a personal check that the bank guarantees or certifies to be good.
a)
True
b)
False
11.
Money in a joint account is available to only the first person named on the account.
a)
True
b)
False
12.
Checking advertised as "free" must not have hidden charges or conditions.
a)
True
b)
False
13.
Banks usually charge fees for processing overdrafts.
a)
True
b)
False
14.
An interest-bearing account pays interest to the depositor when an average minimum monthly balance is maintained.
a)
True
b)
False
15.
Which of the following is a disadvantage of an interest-bearing account?
a)
it earns no interest
b)
the minimum monthly balance requirement may be high
c)
a fee is charged for each check processed.
d)
it is available only to senior citizens
100 %
