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Quiz on Financial Documents

Total questions: 13

Worksheet time: 7mins

Name
Class
Date
1.

A legal document that functions like cash.

a)

Check

b)

Credit card

c)

Debit card

2.

Used to withdraw cash.

a)

ATM card

b)

Credit card

c)

Check

3.

All transactions including deposits, checks, debit card purchases, additional fees, and ATM use should be recorded here immediately after completion.

a)

Checkbook Register

b)

Deposit Slip

c)

Receipt

4.

When a check is written for an amount over the current balance held in an account.

a)

Overdraft

b)

Insufficient funds

c)

Balance transfer

5.

A small paper form that a bank customer includes when depositing funds into a bank account.

a)

Deposit slip

b)

Withdrawal form

c)

Check

6.

Taking money out of your account.

a)

Withdrawal

b)

Deposit

c)

Transfer

7.

A word meaning "to sign."

a)

Endorse

b)

Authenticate

c)

Verify

8.

This type of bank account is used for managing money and makes paying bills more conveniently.

a)

Checking account

b)

Savings account

9.

This type of bank account is best for growing (or stashing) your money.

a)

Checking account

b)

Savings account

10.

Brynn just started her first job and needs a way to manage her daily financial transactions. What is the purpose of a Checking Account for Brynn?

a)

To invest money for long-term growth.

b)

To make cash withdrawals, deposits, purchases, and pay everyday expenses and bills.

c)

To save money with high interest rates.

d)

To borrow funds for large purchases.

11.

The money you put into your checking account is called a

a)

deposit

b)

withdrawal

c)

credit

d)

debit

12.

Define:

Direct Deposit

a)
Direct Deposit is a method of payment where funds are electronically transferred directly into a recipient's bank account.
b)
Direct Deposit is a type of credit card
c)
Direct Deposit is a form of cryptocurrency
d)
Direct Deposit involves physically mailing a check
13.
All bank transactions should be recorded in the register
a)
True
b)
False