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Personal Finance - Checking Acc Ch 5

Quiz by Julie

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35 questions
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  • Q1
    A canceled check is
    one that has been processed by the bank.
    one that has not been processed by the bank.
    one that has not yet been cashed.
    one that you voided.
    60s
  • Q2
    Floating a check is
    writing a check before you have enough money in your account.
    giving someone else money by check to cash so they have money to pay their bills.
    writing a check before you have enough money in your account and is illegal in most states.
    legal in most states.
    60s
  • Q3
    Postdating is
    both of these.
    writing an earlier date on a check.
    writing a future date on a check.
    neither of these.
    60s
  • Q4
    Paying bills online is generally considered
    slower and riskier than writing a check.
    safer than writing a check.
    faster and safer than writing a check.
    faster than writing a check.
    60s
  • Q5
    When depositing a check into your account, you should write the check's
    either of these are acceptable
    ABA number
    neither of these are acceptable.
    the last name of the person or company from whom you received the check,
    60s
  • Q6
    The column headed by a check mark in a checkbook register is provided so you can
    place a check mark in the column to indicate a deposit has been received.
    make a note of a bounced check.
    none of these is correct.
    place a check mark in the column when the check shows on your bank statement.
    60s
  • Q7
    You should reconcile your checking account
    at least every 3 months.
    as soon as you receive the bank statement.
    whenever you have time.
    at the end of the year.
    60s
  • Q8
    A check cannot be cashed until it has been
    none of these.
    reconciled.
    endorsed.
    returned.
    60s
  • Q9
    A joint checking account can be opened by
    only one person.
    more than two people.
    two or more people.
    two people.
    60s
  • Q10
    A money order
    is written when cash is paid to a post office or bank.
    can never bounce.
    both of these.
    neither of these.
    60s
  • Q11
    Debit card transactions
    do not affect your checking account.
    do not affect your bank account.
    should be recorded in your checkbook.
    don't need to be written anywhere.
    60s
  • Q12
    For safety, do not carry your PIN in written form; instead
    none of these.
    leave it at home by the calendar.
    commit it to memory.
    leave it in a safe deposit box.
    60s
  • Q13
    The usual reason for a stop payment order is that the check has been
    lost or stolen.
    stolen.
    written incorrectly.
    lost.
    60s
  • Q14
    Most full-service banks will allow you to
    transfer savings bonds.
    purchase savings bonds.
    purchase or sell savings bonds.
    sell savings bonds.
    60s
  • Q15
    FDIC insurance protects the deposits of customers against loss up to _____________ per account.
    $250,000
    $200,000
    $500,000
    $1,000,000
    60s

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