Terms
Banking Questions
True/False
More banking
More terms
100
This is a electronic version of a paper check and can be used for online payments
What is E-check
100
List four things you can do at a commercial bank
What is open a Checking account, savings account, buy special types of checks, Take out a loan, Rent safe deposit boxes
100
When two or more people share an account it is called a Joint Account
What is True
100
List at least three things you must include when writing out a personal check for it to be cashable
What is Date, Name of Payee, Amount of check in numerals, amount of check in words, signature *purpose of check
100
What is an Automatic transfer of money from one account to another electronically
What is Electronic funds transfer (EFT)
200
Checks that have been processed by the bank
What is Canceled checks
200
What does FDIC stand for
What is Federal Deposit Insurance Corporation
200
You need to update your checkbook register every time funds enter or leave your account
What is True
200
This type of checking account is best for those who use online banking, banking by phone, or the use of ATMs for all their banking needs?
What is Express checking
200
An advanced type of debit card that contains a microchip
What is a smart card
300
A type of check used for a specific amount of money payable to a specific payee
What is Money Order
300
What is the difference in a bank and a credit union
What is Credit unions are for members only. Members who share a common bond. Banks are for everyone
300
Once you write a check, that amount will always be deducted from your account within 2 business days
What is False
300
This allows customers to complete banking tasks from just about any location any time day or night.
What is Banking Apps
300
A type of check accepted as cash in most places around the world
What is Travelers check
400
The signature required on the back of a check to legally transfer value
What is Endorsement
400
What is a check register used for
What is recording checks that have been written as well as deposits and withdraws
400
When using a debit card, purchases are not deducted from your personal checking account.
What is False
400
List 3 factors to consider when choosing a financial institution.
What is Location, hours of operation, availability of online banking, fees charged.
400
small metal containers people rent to protect their valuables from fire or theft
What is safe deposit box
500
A check issued from a bank's own account rather than the account of a person or a business
What is Cashier's Check
500
What are the 3 basic types of checking accounts that financial institutions offer
What is Basic account, express checking, interest bearing account
500
All cash cards are the same and when the money on them has been spent it is no longer valuable and can be discarded
What is False
500
List at least 3 things you will find on your personal checks
What is Name, acct number, address, routing number, banking information, Check number, phone number, drivers license number
500
Computer terminals that customers use to make financial transcations
What is ATM
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