Checking and Savings

Flashcard
•
Life Skills
•
10th - 12th Grade
•
Hard
Wayground Content
FREE Resource
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14 questions
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1.
FLASHCARD QUESTION
Front
How often do customers typically receive a bank statement for their checking account?
Back
Monthly
2.
FLASHCARD QUESTION
Front
FDIC Insurance is...
Back
Protection for bank customers' deposits up to $250,000, guaranteeing their money is still available if the bank goes out of business.
3.
FLASHCARD QUESTION
Front
Jocelyn gets a text alert from the bank that her account balance has dropped below $100 after a series of $20 ATM withdrawals. She has not used her ATM in over a week and wonders what she should do. What would you recommend?
Back
Contact your bank immediately as it appears that your account may have been hacked.
4.
FLASHCARD QUESTION
Front
Which of the following is a way to access the money in your checking account?
Options:
Taking out cash using your credit card at an ATM machine,
Using your debit card to pay for groceries at the checkout,
Depositing a paycheck at an ATM,
Receiving a person-to-person payment from your friend
Back
Using your debit card to pay for groceries at the checkout
5.
FLASHCARD QUESTION
Front
You deposit a birthday check by using the bank app that you have on your smartphone. What is the standard amount of time that you will need to wait in order to get access to these funds?
Back
Usually 1-7 business days later
6.
FLASHCARD QUESTION
Front
What is the mathematical formula that you would use to describe the financial activity on a bank statement?
Back
Ending Balance = Previous Balance + Deposits - Withdrawals - Fees
7.
FLASHCARD QUESTION
Front
Fill in the blanks: Direct deposit typically refers to your __________ sending your _________ electornically to your bank account.
Back
employer, paycheck
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