NEW
Font size
WorksheetsChecking, banking, and megabyte money
Total questions: 14
Worksheet time: 7mins
What is a benefit to using a checking account
direct deposit
proof of payment
Convenience
all of the above
You can do all of the following with online banking EXCEPT
Transfer money from your account someone else's account
Receive alerts when you account information has been changed
Get cash from your account
Deposit a paycheck to your account
Where do you write the amount of the check in words?
On the memo line
On the line below “Pay to the Order of”
the box on the right
On the back of the check
What must you always write on the line that says "Pay to the Order of"?
Your Name
the amount in numbers
the payee
the date
Which of the following statements are true
Using cash is always better than using a checking account
The bank will not honor a check when the signature does not match what is on the signature card
Debit cards can only be used in ATM machines
A restrictive endorsement is just a signature on the back of the check
Which of the following is true
Check aren't in any order
The payee is the person/company receiving the check
On the bottom of your check only has your account number listed
It's reconmended that you sign your check first
FDIC means
your money will earn more interest
your money is insured and safe
where your money is kept
how your money is direct deposited
A debit card
only good for online purchases
only allows you to deposit money
allows you to make purchases and deposit money electronically
allows you to charge goods and services
What does PIN mean?
Personal Identity Now
People In Nation
Personal In Name
Personal Identification Number
Checks
the payment in words and in numbers don't have to match
When using a regular checking acct, there is a limit to how many checks you can write
should be written in black or blue ink
can be written first then, written in your check register
If you lose or your debit card is stolen you should...
start using cash
No sweat, it will turn up
contact your bank or credit union and request a replacement
call the police
Which of the following means consumers must report lost or stolen credit cards no more than two days after the consumer becomes aware of the theft; otherwise, the bank has no obligation to refund losses.
Regulation Z
Regulation D
Regulation T
Regulation E
Which of the following is an advantage of using digital money
Accessible by computers and phone
enable seamless transfer of value
cheapest method for trading currencies.
all of the above
Which of the following describes Buy Now Pay Later
Purchasing items now but must pay a variable interest rate
short-term financing that allows consumers to make purchases and pay for them over time.
If you don't complete paying for the item in a month, the business will reposess the item
After 2 months of payment, it's free
