PLEASE HELP! Checking accounts?

1. A deposit would appear as a debit on your bank statement.


a. false


b. true





2. What is the balance after the transfer on January 17?


a. $242.50


b. $15.00


c. $33.00


d. $40.00





3. What is another term for a bounced check?


a. net income


b. check account


c. non-sufficient funds (NSF)


d. endorsements


e. withdrawal





4. The balance in your checkbook:


a. is only correct if your record all transactions made by you and your bank


b. never needs to be reconciled


c. is always mathematically correct


d. is not important





5. To reconcile a checking account, you have to make sure your check register and the bank's statement agree on how much is in the account.


a. false


b. true





6. When you use your debit card to get cash you have:


a. deposited money in your checking account


b. withdrawn money from your checking account


c. added to your checking balance


d. reconciled your checking account





7. All banks offer the following service:


a. on-line checking


b. person to person tellers


c. phone checking


d. deposits and withdrawals





8. To write a person's own signature on the back of a check before cashing, depositing or giving it to some one else is called an ____________.


a. owner's signature


b. endorsement


c. ancillary signature





9. One advantage to using your debit card is:


a. You don’t have to subtract it from your checking account balance


b. It is safer than carrying cash


c. You can spend as much as you want


d. You can give your friend the PIN number in case you forget it.





10. Insurance that guarantees that if your institution fails, you will not lose up to $100,000 of your money in that institution is called:


a. FDIC


b. banking insurance


c. State Farm


d. home owner's insurance


e. FDA





11. This service is NOT important when comparing banks:


a. debit card design


b. hours of operation


c. convenience of location


d. monthly fees and minimum balance required





12. At the end of every year, before you can file your taxes, your employer must send you this form.


a. W-2 form


b. FICA


c. Gross income


d. Net income


e. W-4 form





13. What type of deposit is illustrated below?


Pay to the order of


K.C. Thurman


Jilly Flower


134 263 894


a. restrictive endorsement


b. blank endorsement


c. special endorsement





14. What is the amount of the check written for Brent's Hair Designs on January 16?


a. $40.00


b. $208.53


c. $-33.00


d. $62.40





15. When using a debit card:


a. There are always fees


b. Identification is always required.


c. You still need to carry a checkbook to record transactions


d. You are not personally liable for more than $50 if it is stolen





16. The Truth in Savings Act requires banks to:


a. disclose the annual percentage yield on your account


b. raise their interest rates monthly


c. charge monthly





17. A/An ____________is the type of check that has a bank's guarantee payment.


a. cashier's check


b. money order


c. endorsement check


d. banking check





18. The outstanding checks total_________________.


a. $158.53


b. $246.53


c. $48.00


d. $914.47





19. A good check writing practice is to write the check before filling in the check register and calculating your new checkbook balance.


a. false


b. true





20. A check, which has cleared the bank, can still bounce.


a. false


b. true





21. Add line 2 and line 3 on your reconciliation form. What is the sum for line 4?


a. $158.53


b. $206.53


c. $88.00


d. $914.47





22. A check register allows you to:


a. keep track of the interest paid on your account


b. automatically record your debit card purchases


c. record the date and amount of each transaction you make every time you make one


d. automatically record your deposits





23. An advantage of using a debit card is:


a. You can build up your credit


b. You don’t have to record a transaction fee each time you use it to know your balance


c. If you buy defective goods you can get your money back because you used your debit card


d. You have a personal PIN number for added safety if the card is stolen





24. When using debit cards always remember:


a. Money is available immediately after depositing it


b. If the card is lost or stolen and not insured by the FDIC your funds are not protected


c. There are never any annual or personal fees for using the card


d. Debit cards can be a way to learn to manage money if used responsibly.





25. If you write “Pay to the order of Jane Doe” and sign your name on the back of your check, it is considered:


a. a restrictive endorsement


b. a blank endorsement


c. a special endorsement


d. not an endorsement|||1. A


2. you don't provide enough information


3. c


4. a


5. b


6. b


7. d


8. b


9. b


10. b (it's issued by the FDIC, and it's normally called deposit insurance, but banking insurance is probably correct, too)


11. a


12. a


13. c


14. you don't provide enough information


15. c


16. a


17. a


18. you don't provide enough information


19. a


20. b


21. you don't provide enough information


22. c


23. d


24. d


25. c|||Why are you having someone here take your test or do your homework for you?





That is just wrong.