Banking Test

Which of the following will incur a service charge or fee? (check all that apply)

• Stop payment order

• Certified check

• Bounced check

• Deposited check returned for insufficient funds

• Cleared check

If you transfer money from your savings account to your checking account, you should ? the amount from your check register.

• add

• subtract

For a check that has cleared, your bank statement will show: (check all that apply)

• Nothing

• the date you wrote the check

• date the check cleared your bank

• "memo"

• check number

When you deposit money, ALL of the funds are available ?.

• immediately every time

• 24 hours later guaranteed

• when check clears other account

Unless you add a restrictive phrase like "?", an endorsed check is the same as cash.

• "for deposit only"

• "do not cash"

• "give to John Smith"

• Your Signature

The point of this simulation was ? .

• to understand what you need to earn to have the lifestyle you realistically want

• to seriously think about what you should be doing now to be able to earn the income you want for the rest of your life

• to waste time in class so teachers don't actually have to do anything

• to make you responsible for having a pen, pencil, and calculator in class each day

• to cause stress on a teenager that will never have anything to do with adult life

A check that has cleared ? . (check all that apply)

• could still bounce.

• will appear on your bank statement.

• will not appear on your bank statement.

• should be erased from your check register.

• means the funds have been taken out of your account by the bank.

Ways to avoid identity theft include: (check all that apply)

• Give out personal information to anyone who calls you on the phone (i.e. bank, IRS, tax collector)

• Review every bank and credit card statement

• Examine your credit score at least once a year

• Carry a list of passwords, blank checks, and social security number

• Use passwords such as "123456" and "password"

Which amount on a written check "wins" over the other?

• neither

• legal amount

• written amount

• it depends

Today you sign into your banking account to set up an online payment in 10 days. You would enter this payment into your register:

• Immediately, showing a payment date in 10 days.

• Since it is an online payment, you do not need to enter it into your check register.

• In 10 days

• Immediately, showing a payment today