WorksheetsChecking Accounts Quizizz 1
Total questions: 35
Worksheet time: 19mins
In what year did credit cards burst onto the financial scene?
1900
1929
1951
1999
What is the main function of a credit card?
Store money
Provide a line of credit for purchases
Earn interest
Transfer funds between accounts
Which of the following is a common feature of credit cards?
Fixed interest rate
Cashback rewards
Unlimited credit limit
Mandatory annual fee
The person you deal with at the bank 'window' is called ...
Customer Service Representative
Account Manager
Teller
Window Cleaner
What payment system is commonly used for recurring payments such as salaries, bills, and subscriptions?
ACH Network
Card Networks
Bank Transfer Networks
Cryptocurrency Payment Systems
When you use a debit card you are using __________.
the bank's money
your parents' money
your money
You need a bank account to get this card.
Credit card
Debit card
This is a written request to your bank to withdraw money from your account and pay it to another person.
Cheque
Phone call
Text
This allows you to withdraw cash from your account or make electronic payments.
Debit card
Loan account
Signature card
Payment card
The action deposits money into an account.
Account credit
Withdrawal
Loan
Account debit
This action withdraws money from an account, either at the bank or at an ATM.
Withdrawal
Deposit
Loan
Credit
A deposit that is electronically transferred from your employer's checking account to your checking account is called a(n) __________________________
direct deposit
ATM
checking account
personal identification number
Which of the following fees can banks charge you for having an account at their institution?
Online statement fee
Monthly maintenance fee
In-network ATM fee
Insufficient funds fee
When you spend more money than you have in your account, you might receive an . . .
overdraft fee
ATM fee
foreign transaction fee
minimum balance fee
What is wrong with this check?
The name is incomplete
The amount of the check is not written
Signature issues
Date issues
What should be written on line 6?
the date
the amount of the check
to whom the check is addressed
your signature
How often does a financial institution approximately send a bank statement by mail?
annually
weekly
quarterly
monthly
To use an online bank account you will need access to...
An ATM
The main street branch
A mobile phone
Internet
What is online banking?
A type of banking conducted through phone calls.
A banking method that requires customers to visit a physical branch.
A digital service provided by banks to conduct financial transactions over the internet.
A service that allows customers to withdraw money from an ATM.
What are the advantages of mobile banking?
Inconvenience, limited access, and time-consuming.
Convenience, accessibility, and time-saving.
Higher fees, limited functionality, and security risks.
Lack of privacy, high costs, and technical difficulties.
How can mobile applications help save money?
Mobile applications can help save money by increasing spending habits.
Mobile applications can help save money by providing investment advice.
Mobile applications can help save money through budgeting tools, expense tracking, and discounts/coupons.
Mobile applications can help save money by offering cashback rewards.
What does it mean to not have access to banking services?
Not having a bank account or access to traditional banking services.
Using online banking services
Having multiple bank accounts
Having access to mobile banking apps
What is the difference between mobile banking apps and online banking?
Mobile banking apps are designed for mobile devices, while online banking is accessed through a web browser on a computer or laptop.
Mobile banking apps require separate login and password, while online banking uses the same credentials as the bank's website.
Mobile banking apps offer more features and functionalities compared to online banking.
Mobile banking apps can only be used with an internet connection, while online banking can be accessed offline.
What are some popular mobile banking applications available in the market?
Venmo, PayPal, Venstar
Robinhood, Acorns, Stash
Mint, Personal Capital, YNAB
Chase Mobile, Bank of America Mobile Banking, Wells Fargo Mobile, Citibank Mobile, Ally Mobile, Capital One Mobile, USAA Mobile, PNC Mobile Banking, TD Bank Mobile, Discover Mobile
How can overdraft fees be avoided?
Opt out of overdraft coverage
Link an additional account for overdraft protection transfers
Request an overdraft line of credit
All of the above
How often does John typically receive his bank account statements?
Daily
Weekly
Monthly
Annually
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 withdraw less than $100 from an ATM.
The first ATM transaction is free, but all additional transactions have a fee.
Most employers will pay their employees by directly depositing their paycheck into their checking account. According to the statement of his checking account, John was paid (a) every (b) .
$694.81
2 weeks
$200.00
$300.00
$100.00
3 weeks
1 month
What is the impact of the Online Fund Transfer - From Savings that appears on John's account statement?
John's savings account balance decreased by $50 and his checking account balance increased by $50
John's savings account balance increased by $50 and his checking account balance decreased by $50
John's savings account balance had no changes and his checking account balance decreased by $50
John's savings account balance increased by $50 and his checking account balance had no changes
Which statement is true regarding Check No. - 409?
This check probably 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.
What transaction caused John to overdraft his account?
The online bill payment of $146.67
Check No. 409 for $100
Check No. 410 for $710.49
The overdraft fee of $35
What was the result of John overdrawing his checking account?
John's payment was greater than the available balance in his account, so the bank will deposit $237.81 into John's account so he can pay his bills.
John's payment was greater than the available balance in his account, so he was charged a $35 fee.
John's payment was greater than the available balance in his account, so he was charged a monthly maintenance fee of $5.
John's payment was greater than the available balance in his account, so the bank will transfer $35 from a linked account.
What fees were charged to John on his checking account during this statement period?
Online transfer fee, Overdraft fee, Check fee
Check fee, ATM fee, Overdraft fee, Maintenance fee
Online transfer fee, ATM fee, Maintenance fee
ATM fee, Overdraft fee, Maintenance fee
Final Balance = Previous Balance (a) Deposits (b) Withdrawals
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