Hands on Banking
Quiz by Eric Davis
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26 questions
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- Q1To sign the back of a check you depositDepreciateDirect DepositReconcileEndorse30s
- Q2Your employer pays you electronicallyDirect DepositReconcileEndorseDepreciate30s
- Q3Go down in valueDepreciateDirect DepositEndorseReconcile30s
- Q4Ann just graduated and wants to find the best way to get started toward a successful financial future. She is considering three options. Which would be the BEST for her to do?Ask her friends about their goals and plans. It's a great way to get ideas and stay motivatedDon't waste time dreaming about things she probably can't have. Focus on getting a minimum wage job as quickly as possibleThink about exactly what she wants for herself by when. Write it down on paper. Look back at her list often and update it60s
- Q5The Federal Deposit Insurance Corporation (FDIC) insures funds at most banks. The FDIC insures each person's money to at least how much?$250,000$1,000,000$500,000$100,00030s
- Q6One of the best ways to determine what's really important to you and where you want to focus your time and effort is to ______________publish your own blogwrite down your goals and update your list over timeask a favorite teachertalk about your new ideas to new friends60s
- Q7Which three terms mean: a decrease in the purchasing power of the dollar; to increase in value; the opposite of a liability?Allowance, accrual, assetInflation, interest, insuranceInflation, appreciation, assetDeflation, depreciation, debt60s
- Q8A Certificate of Deposit (CD) is a type of _______________savings accountinsurancemonthly statementchecking account30s
- Q9Which three items are benefits of online banking?Can check status of transactions any time; automatic transfers can help you save; cuts down on paper wateImproves your computer skills; helps you spend more efficiently; allows you to customize your checksCan check account balance any time; improves your credit rating; automatic transfers can help you keep trackEliminates the need for overdraft protection; increases the interest you earn; actually irons your shirts60s
- Q10The basic idea of reconciling your accounts each month is to compare two things. Which two?account balance and checksaccount statement and transaction registerworksheet and billsworksheet and receipts60s
- Q11One of the best ways to avoid fraud is to ______________________change your identity and social security number frequentlynever buy onlinemonitor your financial activity carefully on a regular basisimmediately destroy your receipts60s
- Q12Money is a way to store, measure, and exchange...coinsfunvalueproducts30s
- Q13In the U.S., money is printed by the __________________ of the federal governmentbest copy machines money can buyDepartment of the TreasuryInternal Revenue ServiceDepartment of Commerce30s
- Q14Whenever one person or group spends money, another person or group ___________spends the exact same amountgains moneygets super jealoussaves the exact same amount30s
- Q15If you deposit money at a financial institution, such as a bank, they'll often reward you by adding a small amount of extra money called ___________ on a regular basisfunny moneyinteresta premiuma bonus60s