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Worksheets

Checking Accounts

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

Which of the following BEST completes the following analogy: Deposit: Paycheck :: Withdraw : ________________

a)

Check

b)

Cash

c)

Insufficient Funds

d)

Account

2.

Which of the following is NOT a way to withdraw cash from a checking account?

a)

Write a check for "CASH" at the bank

b)

Use a debit card at a store and request cash back

c)

Use an ATM card and request cash from your account

d)

Write a check to a store for "CASH"

3.

What is the MAIN purpose of a PIN?

a)

To protect other people from using your ATM card

b)

To communicate with the bank

c)

To get cash back from a store

d)

To protect stores from insufficient funds

4.

What causes a check to “bounce?”

a)

Someone writes a check who does not own the account

b)

The account does not have sufficient funds to cover the amount for which the check was written

c)

The bank does not approve the purchase because a consumer’s credit application was denied

d)

Someone did not have enough cash to withdraw from the ATM

5.

Which of the following is NOT a result of “bouncing” a check?

a)

An overdraft fee

b)

Company Fee for Returned Check

c)

Your account will be credited

d)

You have to pay the money you owe

6.

Why do people have checking accounts?

a)

To safely store money and make payments conveniently with checks or debit cards

b)

To earn high investment returns with guaranteed interest

c)

To borrow long-term loans without interest

d)

To avoid paying taxes on income

7.

Which two are ways people can keep up with their checking account balance? Select two.

a)

Maintaining a check register to record deposits and withdrawals

b)

Using online or mobile banking to monitor transactions

c)

Guessing the balance without records

d)

Ignoring monthly bank statements

8.

Which of the following is a feature of a checking account?

a)

Prevents you from making any withdrawals

b)

Allows you to write checks and use a debit card

c)

Earns high interest rates like a savings bond

d)

Requires you to pay a monthly loan payment

9.

What should you do if you lose your debit card?

a)

Write a check to yourself

b)

Report it to your bank immediately

c)

Continue using your account as normal

d)

Wait to see if someone returns it

10.

Which of the following actions can help you avoid overdraft fees?

a)

Ignoring bank statements

b)

Withdrawing more money than you have

c)

Keeping track of your account balance regularly

d)

Writing checks without checking your balance