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Checking Accounts DAY TWO

Total questions: 37

Worksheet time: 46mins

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 allows you to withdraw cash from your account or make payments electronically.
a)
Debit Card
b)
Loan Account
c)
Signature Card
d)
Payday card
3.
The action enters money into an account.
a)
Deposit
b)
Withdrawal
c)
Loan
d)
Deduction
4.
This action removes money from an account, either at the bank or an ATM.
a)
Withdrawal
b)
Deposit
c)
Loan
d)
Credit
5.
This transaction removes funds from your account.
a)
Debit
b)
Credit
c)
Loan
d)
Deposit
6.
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
7.
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
8.
Sherwood Bennett, who has a checking account at Big Bucks Bank, is writing a check to Cassie Porter, who has a checking account at Lots a Loot Bank.
What should be written on the "Pay to the order of" line of the check?
a)
Big Bucks Bank
b)
Cassie Porter
c)
Lots a Loot Bank
d)
Sherwood Bennett
9.
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
10.
Which of the following is not found on a check?
a)
Account Owner's Name & Address
b)
Account Owner's Social Security Number
c)
routing number
d)
account number
11.
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
12.

Always use permanent ink when writing a check.

a)

True

b)

False

13.

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

a)

True

b)

False

14.

What is the correct spelling?

a)

forty

b)

fourty

c)

fortie

d)

fourtie

15.

What is the correct spelling?

a)

ninty

b)

nintey

c)

ninetey

d)

ninety

16.

A type of account in which only one person can make withdrawals from it

a)

single

b)

joint

c)

express

d)

interest-bearing

17.

This describes an account that has a balance that is negative (less than zero)

a)

overdone

b)

overdrawn

c)

oversee

d)

overbearing

18.

An automated teller machine that provides 24 hour access to banking services such as deposits and withdrawals.

a)

AMT

b)

PIN

c)

EFT

d)

ATM

19.

Withdrawals or transactions that are subtracted (deducted) from your account balance.

a)

interest

b)

credits

c)

debits

d)

deposits

20.

An type of account at a bank that allows a customer to deposit money, make withdrawals and make transfers.

a)

checking

b)

savings

c)

loan

d)

certificate of deposit (CD)

21.

The payee's signature on the back of a check in order to cash it - it can be hand-written, stamped or electronic.

a)

autograph

b)

transfer

c)

fee

d)

endorse

22.

A written order used to tell a bank to pay money from an account holder to the check holder (payee).

a)

register

b)

statement

c)

check

d)

hold

23.

A check that has cleared the account and the amount has been paid to the payee.

a)

cancelled

b)

outstanding

c)

overdrawn

d)

insufficient

24.

The account owner of the check

a)

payee

b)

teller

c)

receiver

d)

drawer

25.

A record of all transactions in your checking account including withdrawals, deposits, fees, etc.

a)

deposit slip

b)

direct deposit

c)

check register

d)

ATM

26.

The status of an account when there are not enough funds (money) in the account to pay the amount of a check, so the check is returned or dishonored.

a)

sufficient funds

b)

insufficient funds

c)

resufficient funds

d)

oversufficient funds

27.

A payment to an account holder by the bank that is based on a percentage of the account balance.

a)

interest

b)

debits

c)

fees

d)

transfer

28.

The receiver of transferred funds from a checking account.

a)

account holder

b)

drawer

c)

teller

d)

payee

29.

A method of depositing payroll checks or government checks directly (electronically) into an account.

a)

direct depsoit

b)

cash received

c)

stop payment

d)

account hold

30.

The process of moving funds electronically from an account in one bank to an account in another bank.

a)

maintenance fee

b)

check clearing

c)

electronic funds transfer

d)

automated teller machine

31.

The amount of cash back that is requested from the account holder when making a deposit.

a)

cash received

b)

interest

c)

insufficient funds

d)

EFT

32.

A form in which the total cash and individual checks are listed because they are going to be added to the account by means of a bank teller or ATM.

a)

check

b)

check register

c)

deposit slip

d)

joint account

33.

This word describes a situation when the bank does not allow the account owner to access the amount of money that was requested on the "cash received" line of a deposit slip until the deposited checks clear the bank. The bank is said to PUT one of these on the account.

a)

hold

b)

lock

c)

fee

d)

interest

34.

The process in which a check is paid because there is enough money in the account to cove the amount of the check.

a)

insufficient funds

b)

direct deposit

c)

check clearing

d)

electronic funds transfer

35.

This is a charge or fee that a bank charges an account owner for maintaining the checking account.

a)

maintenance fee

b)

cash received

c)

credits

d)

overdraft

36.

A type of account in which more than one person is listed on the account and all listed persons can make withdrawals from the account.

a)

single

b)

joint

c)

express

d)

cancelled

37.

Deposits or transactions that are ADDED to your account balance.

a)

fees

b)

debits

c)

credits

d)

holds

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