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WorksheetsUnit 1: Checking Account Review
Total questions: 54
Worksheet time: 2hrs 42mins
Which of the following are parts of writing a check?
Date
Signature
Who you are paying
The address of the person you are paying.
What is a payee?
Person you are paying
The amount of money you are paying
Your signature
What is wrong with this check?
They didn't write who they are paying.
The money amount in dollars is wrong.
The money amount written in words is wrong.
Which of the following is a rule for writing a check?
Write the check in pencil
Leave the memo blank
Write the check in pen
What is wrong with this check?
They did not draw the line at the end of the money amount.
The dollar amount is wrong.
The check was not signed.
The memo is wrong.
Where does your signature go?
The bottom left corner.
The pay to the order of blank.
The bottom right corner.
Where does the dollar amount go?
Pay to the order of blank.
Next to the dollar sign.
The memo
The blank under pay to the order of
The memo must be filled out.
True
False
Where can you find the account number?
Next to the date.
At the top of your check.
At the bottom of your check.
Where can you find the check number?
At the bottom of the check.
At the top of the check next to the date.
It's okay to only write the money amount in numbers. You don't have to write it in words too.
True
False
Don't worry about writing legibly when completing a check.
True
False
The 'memo' section is for your signature.
True
False
Always include the month, day, and year when writing the date.
True
False
It's okay to erase and use whiteout to fix mistakes on a check.
True
False
It's okay to use a pencil or marker when writing a check.
True
False
How could the legal line in the diagram (marked "4") be better written?
Fifty and no/100---------------------------
Fifty Dollars
Fifty/100-----------------------------
Fifty Dollars and zero cents
Which number in the diagram represents the routing number?
3
9
10
11
Which number in the diagram represents the account number?
9
10
11
12
Which is the best way to correct 50- in box "3" on the diagram.
50.XX
50.__
50/no
50.00
This will result in which of the following fees?
What is a withdrawal?
Expenses that do not change from month to month.
Money set aside for the future.
Taking money out of a checking or savings account.
Money received, usually from a job, business, or assets
What is a check?
It is how you see how much money you have in your account.
An online only option to pay bills
An order to pay another person or business from an amount at the bank.
It looks like a v but is longer on one end
"F" is where you sign your _________________.
date
purchase
your full name in cursive
address.
What goes in E?
The signature of the payee.
The amount of the check written in words.
The amount of the check written in numbers.
The address of the company.
Which of the following are parts of writing a check?
Date
Signature
Who you are paying
The address of the person you are paying.
Where can you find the account number?
Next to the date.
At the top of your check.
At the bottom of your check.
Where can you find the check number?
At the bottom of the check.
At the top of the check next to the date.
Cruz had $672.13 in his checking account, and a check that he wrote to his landlord for $650.00 was just deposited.
He then spends $55 on tickets, popcorn, drinks, and candy for him and his girlfriend to go to the movies.
While walking out of the movie, his phone alerts him that Whataburger has deposited his paycheck of $183.15
Without fees, what would the ending balance be at the end of the day if he purchases nothing else?
(a)
Cruz had $672.13 in his checking account, and a check that he wrote to his landlord for $650.00 was just deposited.
He then spends $55 on tickets, popcorn, drinks, and candy for him and his girlfriend to go to the movies.
While walking out of the movie, his phone alerts him that Whataburger has deposited his paycheck of $183.15
How much did Cruz actually spend throughout the day?
(a)
How much did John Jones have in his account on the first day of the statement period?
(a)
John has two ATM transactions but only one of them has a fee (Interac). Why?
Interac is an out-of-network ATM and First Bank charges customers if they use out-of-network ATMs.
First Bank charges customers for using their ATMs.
Banks charge fees if you take out less than $100 at an ATM machine.
The first ATM transaction is free but all additional ATM transactions have a fee.
Most employers will pay their employees by directly depositing their paycheck into their checking account. According to his checking account statement, John was paid (a) every (b) .
What is the impact of the Online Funds Transfer - From Savings that appears on John's statement?
John's Savings account balance declined by $50 and his Checking account balance increased by $50
John's Savings account balance increased by $50 and his Checking account balance declined by $50
John's Savings account balance had no change and his Checking account balance declined by $50
John's Savings account balance increased by $50 and his Checking account balance had no change
Which statement is true regarding Check No. - 409?
This check likely came from John’s employer.
This check was written by John and paid to another person or business.
This check caused John to overdraw his checking account.
This check added $100 to John’s account.
Which transaction caused John to overdraw his account?
The Online Bill Payment for $146.67
Check No. 409 for $100
Check No. 410 for $710.49
The Overdraft Fee of $35
Which fees was John charged on his checking account during this statement period?
Online Transfer Fee, Overdraft Fee, Per Check Fee
Per Check Fee, ATM Fee, Overdraft Fee, Maintenance Fee
Online Transfer Fee, ATM Fee, Maintenance Fee
ATM Fee, Overdraft Fee, Maintenance Fee
Ending Balance = Previous Balance (a) Deposits (b) Withdrawals
Money added to a checking account is called a
withdrawal
deposit
endorsement
drawee
What is an overdraft?
The customer does not have enough money
The customer have enough money
The customer does not have enough checks
None of the above
You can make online ____________ using your banking app.
transportation
transactions
transitions
telecommunication
An (a) is a machine that allows you to withdraw or deposit money into your bank account.
Which of the following is TRUE about a TCF Free Student Checking Account?
The minimum deposit to open the account is $25.
The monthly maintenance fee is $15 per month.
The account earns interest, which makes this a good savings account too.
There is a $3 withdrawal fee for using an ATM in the TCF ATM Network.
Assuming you have a TCF Free Student Checking Account, which fee would end up costing you extra money?
Out-of-network ATM Fee
Monthly maintenance fee
Paper statements fee
Account closing fee
The amount of money you have in your bank account
Balance
Deposit
Overdraw
Direct Deposit
The bank's accounting of your transactions
Voided check
Bank Statement
Prepaid Card
Deposit
An agency of the federal government that insures bank deposits up to $250,000 is the
FAA
FDIC
FIDC
Fed
If the bank changes their account agreement they must notify their account holders in writing (statement) prior to the change
True
False
A P2P payment is
A check from grandma for your birthday
A transfer between two individuals
A way to pay with my checking in a store
Problems 2 Problems
What does it mean to "authenticate" your payment?
Use some method (password, facial recognition, PIN, etc) to prove you are you.
To sign for a purchase.
To give a favorable review about whatever you purchased.
To call your bank and tell them to send money.
