Banking Vocabulary Quiz

What is a bank statement?

• A. A record of all the transactions made in your bank account over a specific period of time.

• B. An app on your smartphone that allows you to check your account balance, transfer money, and pay bills.

• C. The amount of money in your bank account, including deposits, withdrawals, and any fees.

• D. Money that you receive directly into your bank account from your employer, without receiving a physical check.

What is a banking app?

• A. A record of all the transactions made in your bank account over a specific period of time.

• B. An app on your smartphone that allows you to check your account balance, transfer money, and pay bills.

• C. The amount of money in your bank account, including deposits, withdrawals, and any fees.

• D. Money that you receive directly into your bank account from your employer, without receiving a physical check.

What is an account balance?

• A. A record of all the transactions made in your bank account over a specific period of time.

• B. An app on your smartphone that allows you to check your account balance, transfer money, and pay bills.

• C. The amount of money in your bank account, including deposits, withdrawals, and any fees.

• D. Money that you receive directly into your bank account from your employer, without receiving a physical check.

What is direct deposit?

• A. A record of all the transactions made in your bank account over a specific period of time.

• B. An app on your smartphone that allows you to check your account balance, transfer money, and pay bills.

• C. The amount of money in your bank account, including deposits, withdrawals, and any fees.

• D. Money that you receive directly into your bank account from your employer, without receiving a physical check.

What is a joint account?

• A. When you share a bank account with someone else, and both of you have access to it.

• B. A type of bank account where you can write checks and make day-to-day transactions.

• C. The person who owns and manages a bank account.

• D. A type of bank account for saving money, often with a higher interest rate.

What is a chequing account?

• A. When you share a bank account with someone else, and both of you have access to it.

• B. A type of bank account where you can write checks and make day-to-day transactions.

• C. The person who owns and manages a bank account.

• D. A type of bank account for saving money, often with a higher interest rate.

What is an account holder?

• A. When you share a bank account with someone else, and both of you have access to it.

• B. A type of bank account where you can write checks and make day-to-day transactions.

• C. The person who owns and manages a bank account.

• D. A type of bank account for saving money, often with a higher interest rate.

What is a savings account?

• A. When you share a bank account with someone else, and both of you have access to it.

• B. A type of bank account where you can write checks and make day-to-day transactions.

• C. The person who owns and manages a bank account.

• D. A type of bank account for saving money, often with a higher interest rate.

What is a transaction limit?

• A. The maximum number of transactions you can make in a month with a specific account.

• B. Extra services provided by a bank, often at an additional cost.

• C. The least amount of money you need to keep in your account to avoid fees.

• D. A charge that occurs when you don't have enough money in your account to cover a transaction.

What are fee waivers?

• A. The maximum number of transactions you can make in a month with a specific account.

• B. Extra services provided by a bank, often at an additional cost.

• C. The least amount of money you need to keep in your account to avoid fees.

• D. A charge that occurs when you don't have enough money in your account to cover a transaction.