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Chapter 19- Personal Banking

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

Using a debit card has the same result as____

a)

Using a credit card

b)

Writing a check

c)

Borrowing money

d)

Saving money

2.

An individual retirement account in which individuals contribute after-tax income and qualified withdrawals are not taxed is a(n)

a)

401 (K)

b)

401 (B)

c)

Retirement fund

d)

Roth IRA

3.

The signature on the back of a check is a(n)

a)

Signature

b)

Payment

c)

Endorsement

d)

Check stub

4.

A combination of savings and checkings account is a(n) _____ checking account

a)

Interest-bearing account

b)

Bank Account

c)

Investment Account

d)

Money Making Plans

5.

A bank account used by depositors to accumulate money for future use is a(n)

a)

Bank Account

b)

Emergency Funds

c)

Will

d)

Savings plan

6.

A plan to develop investment growth is a(n) _____ plan

a)

Property Investment

b)

Personal Investment

c)

Investment Growth Plan

d)

Strategy

7.

A legal document stating a person's wishes for his or her estate after death is a(n)

a)

Will

b)

Estate

c)

Annuity

d)

Keogh Plan

8.

A retirement program can be sponsored or started by______

a)

Employers

b)

Individuals

c)

the self-employed

d)

All of the above

9.

A (n)______ is a contract with an insurance company that provides regular income for a set period of time, usually for life

a)

401(K)

b)

401(B)

c)

Roth IRA

d)

Annuity

10.

The portion of a company's earnings that is paid to stockholders is a(n)_____

a)

Interest Payment

b)

Dividends

c)

Annuity

d)

Deposit

11.

A _____ requires a fixed deposit period of time

a)

Basic savings account

b)

High-Yield savings account

c)

Money Market Account (MMA)

d)

Certificate of Deposit (CD)

12.

Reconciling a bank statement means comparing the

a)

Check register to the checking account

b)

Check register to the savings account

c)

Savings account to the checking account

d)

Credit card to the debit card

13.

When a customer has _____, financial institution will honor a check even if it exceeds the account balance

a)

A stop payment order

b)

Been Loyal

c)

Overdraft protection service

d)

Many accounts

14.

When of the following in NOT required to open a checking account

a)

Credit Report

b)

Signature

c)

Personal Identification

d)

Social Security number

15.

Which of the following is an example of a banking service?

a)

Safe- Deposit Box

b)

Loan

c)

Special Payment Service

d)

All of the above