Understanding Checking Accounts Flashcard
Flashcard
•
Business
•
9th Grade
•
Hard
Standards-aligned
Wayground Content
FREE Resource
Student preview
11 questions
Show all answers
1.
FLASHCARD QUESTION
Front
What is a checking account primarily used for?
Back
Making everyday transactions and payments
Tags
DOK Level 2: Skill/Concept
2.
FLASHCARD QUESTION
Front
Which of the following is a benefit of having a checking account? It allows you to earn high interest on your balance, It provides a safe place to store your money and easy access to it, It requires no fees or charges, It automatically invests your money in the stock market
Back
It provides a safe place to store your money and easy access to it
Tags
DOK Level 2: Skill/Concept
3.
FLASHCARD QUESTION
Front
What is the first step in opening a checking account?
Back
Choosing a bank or credit union
Tags
DOK Level 2: Skill/Concept
4.
FLASHCARD QUESTION
Front
How can you make a purchase using a debit card?
Back
By swiping or inserting the card at a point of sale terminal.
Tags
DOK Level 2: Skill/Concept
5.
FLASHCARD QUESTION
Front
What information is necessary to fill out a check?
Back
The date, recipient's name, amount, and your signature
Tags
DOK Level 2: Skill/Concept
6.
FLASHCARD QUESTION
Front
What does it mean to endorse a check?
Back
To sign the back of the check to authorize its cashing or deposit.
Tags
DOK Level 2: Skill/Concept
7.
FLASHCARD QUESTION
Front
Why might someone choose to pay by check instead of cash?
Back
Checks can be used to track payments and provide a record
Tags
DOK Level 2: Skill/Concept
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