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Test your basic knowledge |
Banking Services
Start Test
Study First
Subject
:
personal-finance
Instructions:
Answer 48 questions in 15 minutes.
If you are not ready to take this test, you can
study here
.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.
This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Paper money in circulation.
currency
individual
blank endorsement
compound interest
2. The amount of money you have in your account.
balance
statement
reconcile
interest
3. A sum of money deposited into an account. Also the ability to charge merchandise or borrow money.
credit
interest
drawer
mortgage
4. To 'balance' your checking account with your monthly statement from the bank.
overdraw
principal
forged check
reconcile
5. A type of loan on a house - car - furniture - etc.
overdraw
mortgage
secured loan
deposit
6. A deposit that has been made but not yet added to the person's bank account.
special endorsement
blank endorsement
outstanding deposit
mortgage
7. A place where account information on deposits and withdrawals is exchanged - often electronically.
secured loan
compound interest
unsecured loan
clearinghouse
8. To write a future date on a check.
check register
identification
individual
post-date
9. A record that allows you to keep track of checks you have written - ATM/debit card transactions - as well as deposits and withdrawals.
identification
check register
outstanding check
compound interest
10. Something you must 'handwrite' on every check.
direct deposit
signature
worksheet
identification
11. Making the check payable to a third party and preventing anyone else from cashing it.
special endorsement
drawer
statement
mortgage
12. A check that has been written but not yet deducted from the person's bank account.
individual
cashier's check
outstanding check
checkbook
13. Personal Identification Number needed to use an ATM card.
PIN
deposit
interest
credit
14. A handy portfolio that holds your check register - checks - deposit slips - receipts - and other ATM/debit card transactions.
interest
unsecured loan
checkbook
identification
15. A check with 'VOID' written across it that make it non-negotiable.
void check
ATM
overdraw
money order
16. The signature of the person to whom the check is written is made on the back of the check.
balance
signature
blank endorsement
reconcile
17. What you need before you can have a check OK'd by most retail stores.
mortgage
debit card
identification
restrictive endorsement
18. An activity you conduct on your account such as a deposit - withdrawal - transfer - etc.
post-date
outstanding check
Transaction
compound interest
19. A loan for a home.
check register
mortgage
ATM
cancelled check
20. Credit card or student loan
PIN
cancelled check
unsecured loan
money order
21. Checks the bank has paid. They will appear on your bank statement.
direct deposit
cancelled check
joint
debit
22. The amount of money you borrow in a loan.
principal
special endorsement
individual
Transaction
23. To write a check or make a withdrawal when there isn't enough money in the account to pay for it.
money order
overdraw
blank endorsement
balance
24. The monthly record of your account transactions sent to you by your bank.
check
clearinghouse
credit
statement
25. A card used when opening a new account that includes name - address - birthdate - etc.
signature card
blank endorsement
cashier's check
deposit
26. Money you put into your account.
individual
deposit
cashier's check
clearinghouse
27. The section of your bank statement that you use to balance your checkbook.
worksheet
mortgage
drawer
endorse
28. A plastic card that enables you to do ATM transactions and to make purchases instead of using cash or writing a check.
deposit slip
debit card
restrictive endorsement
individual
29. An account where more than one person has the right to use it.
joint
principal
credit
deposit slip
30. The part of a check that you keep as record of the transaction if you do not use a check register.
deposit slip
blank endorsement
check stub
interest
31. A check issued by a bank and sold to you for personal payments to people who won't accept a personal check. It certifies that you have the money available.
32. Automatic Teller Machine
deposit slip
Transaction
restrictive endorsement
ATM
33. A type of endorsement that states that the check is only to be deposited.
debit
restrictive endorsement
check stub
blank endorsement
34. Someone who keeps up with their checkbook and correct balance.
signature card
PIN
Money manager
deposit slip
35. A fee paid to you for keeping your money in the account or a fee charged to you for a loan or credit card.
interest
special endorsement
void check
reconcile
36. The person to whom the check is made payable.
credit
compound interest
checkbook
payee
37. To sign the back of a check made out to you so it can be cashed or deposited.
blank endorsement
check stub
forged check
endorse
38. A written order to the bank that tells it to take a stated amount of money from your account and pay to another.
check
blank endorsement
secured loan
joint
39. A form of check payment on which the financial institution prints the exact amount covered. Often used by people who do not have a checking account.
balance
principal
money order
checkbook
40. The person Who issues the check.
PIN
drawer
Money manager
individual
41. Earning interest on the previous amount of interest earned.
direct deposit
compound interest
ink
Money manager
42. A check on which the drawer's signature has been forged.
forged check
special endorsement
mortgage
identification
43. A sum of money deducted from your account.
PIN
outstanding check
balance
debit
44. Your employer automatically deposits your paycheck into your account.
direct deposit
forged check
void check
balance
45. A form you fill out to credit money to your account when you make a deposit.
ink
deposit slip
checkbook
check
46. What you should always write with on every check.
ink
signature card
check
joint
47. An account where only one person has the right to use it.
individual
deposit slip
debit card
Money manager
48. Safety - Proof of payment - convenience - establishes credit - & budgeting
forged check
unsecured loan
Money manager
reasons to have a checking account