
Chapter 14 Banking
Quiz by Paula Fontaine
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10 questions
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- Q1Which of the following is true about a checking account?The written amount and the amount in words do not have to match.An ATM card and a check are the same thing.Your signature gives the bank the authority to withdraw the amount from your account.The payee is the person who signs the check.30s
- Q2Which of the following transactions do you record in your check register?depositsdebit card transactionsAutomatic paymentsAll of the above30s
- Q3An outstanding check meansa check has been cashed by the bankit is a great checkis a check that has been written, but it hasn't been cashed-deposited by the bank, or otherwise cleared the bank.the check hasn't been written30s
- Q4The first set of numbers on the bottom of a check representsthe number of the checkyour account numberthe amount of the checkthe banks routing number30s
- Q5You have searched everywhere for your ATM card. You think it may have been stolen. Of the following actions, what is the best thing to do now?NothingNotify the bank that issued your cardClose your accountCall your parents30s
- Q6You can do all of the following with online banking EXCEPT which of the following banking actions?Get cash from your accountpay billsdeposit your paychecktransfer money to another account30s
- Q7What is an advantage of electronic funds transfer (EFT)This is the best way to always keep your personal and financial information secureYour bank will not charge feesEFTs are faster and they reach the provider's account soonerThe number of withdrawals from an EFT acount is limited so you are not tempted to impulsively use the money30s
- Q8A deposit that is not reported on your bank statement is considerednot processedoutstandingclearedmissing30s
- Q9How often should you reconcile your bank account?every other monthonce a yeartwice a yearevery month30s
- Q10Which of the following is considered a blank endorsement?CashFor deposit only Paula FontainePay to the order of Paula FontainePaula Fontaine30s