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Checking Accounts

Total questions: 20

Worksheet time: 29mins

Name
Class
Date
1.
This account allows you to withdraw money, pay a bill, or make purchases easily.
a)
Checking Account
b)
Savings Account
c)
Market Money Account
d)
CD Account
2.
This is a written request to your bank to take money from your account & pay it to someone else.
a)
Check
b)
Telephone Call
c)
Text
d)
Email
3.
This allows you to withdraw cash from your account or make payments electronically.
a)
Debit Card
b)
Loan Account
c)
Signature Card
d)
Payday card
4.
The action enters money into an account.
a)
Deposit
b)
Withdrawal
c)
Loan
d)
Deduction
5.
This action removes money from an account, either at the bank or an ATM.
a)
Withdrawal
b)
Deposit
c)
Loan
d)
Credit
6.

A card used to access funds in your checking account

a)

Check

b)

Debit Card

c)

Drawee

d)

Drawer

7.

Signature on the back of the check designating who to pay

a)

Debit Card

b)

Drawer

c)

Drawee

d)

Endorsement

8.

Person or business the check is written to

a)

Payee

b)

Drawer

c)

Drawee

d)

Endorsement

9.
What should be written on line 6?
a)
the date
b)
the amount of the check
c)
who the check is going to
d)
your signature
10.

Always use permanent ink when writing a check.

a)

True

b)

False

11.

Writing the dollar amount in both numbers and words makes your check more secure.

a)

True

b)

False

12.

What is labeled 2?

a)

Date

b)

Payor

c)

Payee

d)

Signature

13.

What is line. "B". for?

a)

How much cash you have

b)

How much cash you want to keep

c)

How much money depositing into bank

d)

Signature line

14.

What is line. "C". for?

a)

How much cash you have

b)

How much cash you want to keep

c)

Checks you have to put into bank

d)

total money putting into bank

15.

What is line. "E". for?

a)

Signature line

b)

Total putting into the bank

c)

Total money want to keep

d)

Total cash to put into bank

16.

What is line. "F". for?

a)

total Cash you want to keep

b)

Total cash putting into bank

c)

Total Checks putting into bank

d)

Total money putting into bank

17.
Orrin had $541.06 in his checking account, and a check that he wrote to his landlord for $560.00 was just deposited.
This will result in which of the following fees?
a)
overdraft fees
b)
service fees
c)
atm fees
d)
over spending fee
18.
Cruz had $672.13 in his checking account, and a check that he wrote to his landlord for $650.00 was just deposited.
This will result in which of the following fees?
a)
overdraft fees
b)
service fees
c)
atm fees
d)
None of the above
19.
At the beginning of this month, the balance of Vance's checking account was $697.96. So far this month, he has received a paycheck via direct deposit of $962.88, been charged a monthly service fee from his bank of $25.00, used a debit card linked to his account to make a purchase of $83.12, written a check for $138.83 that has already been deposited, and deposited a check written to him for $71.17. What is the current balance of Vance's checking account?
a)
$1620.38
b)
$1510.06
c)
$1485.06
d)
$787.10
20.
Shannon makes a deposit in her checking account. She has checks for $178.16 and $36.00. She gets back $20.00 in cash.
What is her total deposit?
a)
$214.16
b)
$198.16
c)
$194.16
d)
$234.16