Types of checks
Quiz by Joylyn Dacumos
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30 questions
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- Q1What is a post-dated check?A check written in a foreign currencyA check issued by a government agencyA check that bouncesA check with a future date written on it30s
- Q2What is a voided check?A check that has been cashedA check with no dateA check with no signatureA check that has been marked as invalid30s
- Q3What is a traveler's check?A check for travel purposesA check used by businessesA check for social eventsA check written in a foreign currency30s
- Q4What is a payroll check?A check issued by an employer for employee wagesA check issued by a government agencyA check with no specified recipientA check for personal expenses30s
- Q5What is a certified check?A check with insufficient fundsA check issued by the governmentA check guaranteed by the bankA check that needs to be deposited within 24 hours30s
- Q6What is a cashier's check?A personal checkA check issued by the governmentA check guaranteed by the bankA check with no guaranteed funds30s
- Q7What is the purpose of filling out a deposit slip?To withdraw money from the bank account.To transfer money to another bank account.To request a loan from the bank.To specify the amount of money being deposited and the account it should be credited to.30s
- Q8What is the purpose of endorsing a check on a deposit slip?To cancel the check and request a new one.To transfer the check to another person.To authorize the bank to deposit the check into the specified account.To withdraw money from the account using the check.30s
- Q9What is the purpose of a deposit slip?To transfer money between different bank accounts.To provide information about the cash and checks being deposited into an account.To apply for a credit card.To withdraw money from an account.30s
- Q10What is a withdrawal slip?A form used to transfer money between bank accounts.A form used to withdraw money from a bank account.A form used to deposit money into a bank account.A form used to apply for a credit card.30s
- Q11What information is typically required on a withdrawal slip?Account number, date, amount to withdraw, signature.Credit card number, expiration date, amount to withdraw, PIN.Name, address, date, amount to withdraw, signature.Account number, social security number, amount to withdraw, password.30s
- Q12Why is it important to use a withdrawal slip?To request a loan from the bank.To ensure accurate record keeping and authorize the transaction.To transfer money between bank accounts.To apply for a credit card.30s
- Q13What type of bank account is designed for everyday transactions?Certificate of depositMoney market accountSavings accountChecking account30s
- Q14What type of bank account allows you to earn interest on your savings?Money market accountChecking accountCertificate of depositSavings account30s
- Q15Which type of bank account typically has the highest level of liquidity?Certificate of depositSavings accountMoney market accountChecking account30s