WorksheetsUnit 1 Checking Review
Total questions: 21
Worksheet time: 21mins
What is the definition of WITHDRAW?
Leave money in bank account
Take money out of bank account
Add money to bank account
What is the definition of DEPOSIT?
Leave money in bank account
Take money out of bank account
Add money to bank account
Venmo is an example of a _________
A bank
A budgeting app
A Person-2-Person payment app
Which of the following is NOT a method of depositing money into a checking account?
Through an ATM
Direct deposit from your employer
Sending your money to the branch through the mail
Which of the following best describes what FDIC Insurance is?
A government backed policy that protects your money if a bank fails
A bank program that protects you from high overdraft fees
Additional accounts offered by banks to save for car and home insurance
Which of the following is a similarity between debit cards and prepaid cards?
Both are linked to a bank
Both are limited by the amount of money that you currently have
Both require a credit check to use
What is the largest frequently charged fee on checking accounts?
ATM Fees
Overdraft Fees
Monthly Maintenance Fees
What is the purpose of a bank statement?
It alerts you about possible fraudulent charges on your account
It explains all fees that have been incurred during the previous month
It provides a list of all transactions on your account from the previous period, including withdrawals, deposits, and fees
WHY would you want to use a check register?
To identify bank mistakes
Avoid bounced checks
Helps you stay on top of transaction and know how much you can afford to spend
All of the above
Which is the process of comparing your own records to the records provided by your bank?
Writing a check
Balancing your checking account
Reconciling your checking account
What two items do you need to reconcile your checking account?
Check register and monthly bank statement
Credit card statement and monthly bank statement
Check register and credit card statement
What needs to be filled in when you write a check?
The dollar amount in number form and in written words
Your signature
Date
Who the check is to
All of the above
What's wrong with this check?
They didn't write in the date.
They didn't sign in the correct spot.
They didn't write in the dollar amount.
Is this check filled out correctly?
Yes
No
Which of the following is an example of online bill pay?
Using a person-to-person app to repay your friend for dinner
Using Apple pay to purchase your groceries at a store
Setting your bank to send your rent to the landlord monthly on the 25th
Which of the following statements is an advantage of online banking?
Once you set up online banking, your bank will waive overdraft, ATM, and monthly fees
Using online banking, you can request transfers, pay bills, and automate your savings without visiting the bank branch
Online banking is the only way you can make online purchases
When using mobile banking, which of these is NOT a smart tip to keep your account safe?
Make sure your phone is password protected
Only use the official website or app associated with your bank
Use easy-to-remember numbers for your online PINs, such as your Social Security number, account number, or birthday
What are the benefits of online bill pay?
Easier bill pay
24/7 account access
Use of mobile apps to pay bills
All of the above
An (a) is a machine that allows you to withdraw or deposit money into your bank account.
A _________________ is prepared by your bank and shows all of your transactions on your account.
bank statement
check
withdraw
deposit
A debit card is connected to your checking account and allows you to make purchases or use an ATM.
True
False
