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WorksheetsOnline Banking, Fraud and Direct Deposit Test
Total questions: 67
Worksheet time: 39mins
Why can a person have all three of these: a savings account, credit, and a checking account.
Because they are all different.
Because they are all the same.
Because they all require the same type of check.
Because they all can be used with an ATM.
What is needed to open a checking account?
A social security account
Money to deposit
Be at least 18 years old
A check register
An ATM account
You cannot use your debit card to withdraw money from your checking account.
True
False
You cannot use your debit card to withdraw money from your checking account.
True
False
Options for banking accounts:
Interest-bearing account
No minimum requirement
Free checks
Vanity checks (have pictures on them)
Automatic teller machine, a bank machine that gives out cash from your account and accepts deposits around the clock.
ATM
Balancing (a checkbook)
Bank
Bank Statement
A periodic (usually monthly) check that your account balance and statements accurately reflect the actual deposits made to the account and the checks written against.
ATM
Balancing (a checkbook)
Bank
Bank Statement
Financial institution at which you can get a checking account or savings account.
ATM
Balancing (a checkbook)
Bank
Bank Statement
Monthly document from your bank that shows all transactions in your account.
ATM
Balancing (a checkbook)
Bank
Bank Statement
A credit union is a member-owned financial institution that offers many of the same services as a bank.
Bouncing (a check)
Check
Check register
Credit union
Like a credit card, but directly attached to a checking account; a _____ ____ can be used to pay for items at a store.
Debit card
Direct deposit
Fees
Interest-bearing checking account
Overdrafts
An automatic deposit of a paycheck without having to take a physical check to the bank.
Debit card
Direct deposit
Fees
Interest-bearing checking account
Overdrafts
Service fees for use of the checking account, built into the service agreement.
Debit card
Direct deposit
Fees
Interest-bearing checking account
Overdrafts
A checking account that pays interest on the balance.
Debit card
Direct deposit
Fees
Interest-bearing checking account
Overdrafts
Amounts withdrawn from your account beyond the money the account holds.
Debit card
Direct deposit
Fees
Interest-bearing checking account
Overdrafts
A savings account is to save money and grow interest.
True
False
A way of growing your money.
Interest
Credit
Deposit
Withdrawal
Getting a loan.
Interest
Credit
Deposit
Withdrawal
Putting money into an account.
Interest
Credit
Deposit
Withdrawal
Taking money out of an account.
Interest
Credit
Deposit
Withdrawal
Where one or more people have their names on the account.
Joint banking account
Clear
Minimum balance
Void
When the bank has to make sure that the check has enough money within the checking account.
Joint banking account
Clear
Minimum balance
Void
The minimum amount of money that you must have in your checking account.
Joint banking account
Clear
Minimum balance
Void
If you make a mistake on the check you must write this and don't throw the check out.
Joint banking account
Clear
Minimum balance
Void
What can we go to the bank for?
A savings account
Credit
Checking accounts
Overdraft payments
Why can a person have all three of these: a savings account, credit, and a checking account.
Because they are all different.
Because they are all the same.
Because they all require the same type of check.
Because they all can be used with an ATM.
What is needed to open a checking account?
A social security account
Money to deposit
Be at least 18 years old
A check register
An ATM account
You cannot use your debit card to withdraw money from your checking account.
True
False
Options for banking accounts:
Interest-bearing account
No minimum requirement
Free checks
Vanity checks (have pictures on them)
How can you verify if a banking app is legitimate or not?
Download any app with good reviews
Check for the app's logo and official name in the app store
Share your personal details to confirm authenticity
Why is it important to keep your online banking information private?
To impress your friends
To avoid sharing your favourite colour
To protect your money and personal information from strangers
Which of the following is a strong password?
Your pet's name
Your favourite cartoon character
A combination of letters, numbers, and symbols that are not easy to guess
What should you do if you receive an email or message asking for your online banking password?
Share it with them
Ignore the message
Immediately report it to a trusted adult
What is two-factor authentication (2FA)?
A way to use two different computers
A security feature that adds an extra layer of protection by requiring a second verification step
A way to slow down hackers
When using a public computer or Wi-Fi, what should you avoid doing?
Checking your online banking
Sharing your favourite memes
Using a secure and encrypted connection
Why is it important to regularly check your online banking statements?
To see how much money your friends have
To make sure your favourite online store is still open
To monitor your transactions and detect any unauthorized or suspicious activity
What should you do if you notice a transaction on your online banking statement that you didn't make?
Keep quiet and hope it goes away
Call your friends and ask if they made the transaction
Report it to your bank immediately
What does "log out" mean in online banking?
Take a break from using the internet
Close your online banking session to prevent unauthorised access
Share your login details with friends
How can you make sure you are visiting the official website of your bank when logging in?
Click on any link that looks like it
Type the bank's website address directly into the browser
Ask your friends for the correct link
Match the type of fraud: Chris learned their identity had been used during an arrest, but Chris hadn’t been arrested.
Tax
Investment
Identity Theft
Communications
Credit
Chose all of the answer choices that apply: Pat is considering purchasing a new tablet online; what are three steps they should take to protect against fraud?
Look for “https” and/or a picture of a lock by the URL
use a credit card
use a secure password
use a debit card
How does the federal government work to protect consumers?
There is a Stop Fraud website sponsored by the government and includes a detailed list of where each type of fraud should be reported
If the government notices errors on your credit report they will look into the errors, where the came from, and if they determine fraud is involved they will prosecute the suspects
Match the way fraud may occur in the scenario: A scammer is using email to pretend to be your bank.
Computer
Skimming
Phishing
Stealing
A debit card should be used (instead of a credit card) when making online purchases.
True
False
Match the way fraud may occur in the scenario: A scammer has attached a device to a gas pump to access credit card information.
Computer
Skimming
Phishing
Stealing
Diverting mail
Fraud is: deliberate deception, designed to secure unfair or unlawful gain.
True
False
Is fraud legal or illegal?
illegal
Legal
If you fall for a phishing scam, what should you do to limit the damage?
Delete the phishing email
Unplug the computer. This will get rid any malware.
Change any compromised password.
Neema has joined several social networking websites. What should they do to protect against fraud? Check all that apply.
post personal information about herself
use privacy settings to restrict who may view her information
use simple passwords that are easy to remember
never post social security numbers, phone number, address, and financial information
Fraudulent investment operations that involve paying abnormally high returns to investors out of the money paid by other investors
Pyramid Scheme
Ponzi Scheme
Affinity Fraud
Bank Fraud
All types of crime in which someone wrongfully obtains and uses another person's personal information
Fraud
Scam
Identity Theft
Affinity Fraud
a written order to a bank to pay a stated sum from the drawer's account
fraud
identity theft
scam
check
declare that something is not valid or legally binding
bankruptcy
fraud
scam
void
How many districts are there in the Federal Reserve System?
3
7
12
19
Federal Reserve economists generally agree that the economy performs well when:
There is no inflation.
Inflation is low and prices are stable.
There is no unemployment.
Stock market values are rising.
_____ carry out Fed policy and oversee banking within its district.
Financial Institutions
Federal Reserve System
District banks
The _____ is the central bank of the United States.
Financial institutions
Federal Reserve System
District Banks
_____ accept deposits from depositors and lend money to businesses and consumers.
Financial institutions
Federal Reserve System
District banks
When was the Federal Reserve established?
1900
1913
1929
1945
Why was the Federal Reserve created?
To regulate the banking system
To control inflation
To manage the national debt
To oversee the stock market
Why is regulation important for the financial system?
To ensure stability and protect consumers
To increase market volatility
To reduce transparency
To limit market access
"The Fed" refers to the....
Federal Bureau of Investigation
Federal Government
Federal Reserve System/Bank
Federal Income Tax
Money that you borrow from a bank:
loan
principal
interest
payment
