Banking Test Review

The FDIC insures bank deposits up to $_____ per person, per bank, per ownership category.

• $100,000

• $250,000

• $500,000

• Unlimited

_____ is the federal agency that insures customers' deposits at credit unions.

• FDIC

• NCUA

• FICO

• FICA

The FDIC insures deposits at both banks and credit unions.

• True

• False

Your checking account balance dips below zero. Your bank charges you a $35 fee AND is charging you interest for lending you money to cover the shortfall. Why?

• You have overdraft protection

• You DON'T have overdraft protection

Which of these is NOT REQUIRED to be pre-printed on a check?

• Your name & address

• Routing Number

• Account Number

• Bank or Credit Union's Name

Emily wrote a check for $100, but her checking account only has $25. The bank paid the check because she has...

• relatives who have accounts at the same bank

• had an account at that bank for over 10 years

• a high credit score

• overdraft protection

An example of electronic funds transfer (EFT) is...

• transaction made with a check

• direct deposit

• deposit made with a bank teller

• cash received from a check-cashing store

Which statement is FALSE about most ATMs?

• You must have an account with a financial institution to have an ATM card

• You can access your bank account balance at an ATM

• You can usually get cash 24 hours a day, 7 days a week

• You can get cash anywhere in the world without paying a fee

To remember your ATM/Debit card personal identification number (PIN), you should write the PIN and keep it...

• in your wallet

• in your checkbook

• on the ATM card itself

• at home, in your desk drawer

A blank endorsement on the back of a check...

• means it's not signed yet

• creates a check that can be cashed by anyone

• restricts the use of the check