Why it is important to draw a line up to the word DOLLARS when writing the amount of a check in words?

It's safe way to prevent someone other than you from changing the amount

An online account transfer is:

A transfer of money from one account to another conducted online

With online banking, you can:

Pay bills, check your balance, and see if checks have cleared

Requires membership, but in other respects is like a bank

To balance your checkbook:

Subtract any checks in your check register that are not marked as cleared

When paying bills online, a payee is:

Someone to whom you send a payment

When opening a checking account, it's most important that you should look for:

Bank fees charged to manage your account

When writing a check:

Spell out the dollars and cents on the long line that end in "Dollars"

The minimum age for opening a bank account is:

any age if a parent/guardian is on a joint account

The most secure Internet access is available through:

Cable modem, DSL, or dial up Internet

can happen automatically every month, even if you set it up just once

Banks offer "points" or "rewards" because:

You with points or rewards you feel like your getting something for nothing

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Unit 4 Study Session (Fin Lit)

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Questions 25

Answers

1
A synonym for fraudulent is:
Erroneous
red flag
Dishonest
Uncommon
2
Why it is important to draw a line up to the word DOLLARS when writing the amount of a check in words?
Large letters are easier to read
The bank will not cash the check unless you draw the line
It's safe way to prevent someone other than you from changing the amount
3
An online account transfer is:
An automatic payment of a cell phone bill from a credit card
Setting up a recurring payment through online banking
A transfer of money from one account to another conducted online
An online bill payment
4
Which of the following is NOT an example of a financial institution?
Savings and Loan
Credit Union
Bank
Library
5
With online banking, you can:
Use a telephone to talk to a bank teller
Pay bills, check your balance, and see if checks have cleared
Access accounts that are not your own and transfer money into your own acct
Put a check through a scanner to pay bills automatically
6
Found on your monthly bank statement, but not found in your check register is:
Overdraft charges
All of the above
Interest
Bank fees
7
A credit union:
Can't keep savings accounts
Never has interest rates as good as a bank
Requires membership, but in other respects is like a bank
Is only open to college students
8
Which of the following is NOT considered personal information?
Credit Card Number
Social Security Number
Place of Employment
Date of Birth
9
Which is an example of a good password?
"12345678"
All of the above
"Sn@pchatR00les"
Nophishing
10
To balance your checkbook:
Subtract any checks in your check register that are not marked as cleared
Subtract any deposits in your register that have not been marked as cleared
Add any checks in your check register that are not marked as cleared
Add the interest paid and bank charges to the register balance
11
How can using online banking help with your annual taxes?
Online banking allows you to transfer money between your various accounts
Both B and C
Online banking allows you to track expenses that qualify for tax deductions
Online bank statements can be downloaded to tax prep programs like Quicken
12
When paying bills online, a payee is:
A middleman who relays a payment to another party
Someone who pays you
Someone to whom you send a payment
13
When opening a checking account, it's most important that you should look for:
A large bank
Bank fees charged to manage your account
Rewards and points
14
When writing a check:
Spell out the dollars and cents on the long line that end in "Dollars"
Sign on the line that says "Pay to the order of"
Always print your signature
Spell out the dollars and cents in the short box next to the $ symbol
15
When depositing money into an account, it is important to:
include your account number
thank the teller
swipe your credit card
16
Another word meaning to balance your checking account.
Reconcile
Rebalance
Debit
Equalize
17
Secure URL's begin with:
"http://"
"www"
https://
"http:/"
18
The minimum age for opening a bank account is:
none of these
there is no minimum
21
any age if a parent/guardian is on a joint account
19
Oh no! You bounced a check. You must pay _________________ to the business you wrote the original check to.
Overdraft charge
Penalty Fee
Twice the original amount
Interest
20
What is a check that is written for more than the amount of money in a checking account?
Paycheck
Interest
Bounced Check
Deposit
21
One hint that you might be dealing with a phishing site is:
Hidden address bar
Fake address bar
All of the above
Misspelled text
22
The most secure Internet access is available through:
Cable modem, DSL, or dial up Internet
Wi-Fi at a coffee house
Wi-Fi at a public library
23
Online bill payment:
can happen automatically every month, even if you set it up just once
Will definitely cause an overdraft charge
Can only be set up by making an appointment with a bank branch manager
Cannot be set up online
24
Banks offer "points" or "rewards" because:
They like to make your life more fun.
You with points or rewards you feel like your getting something for nothing
They want you to practice good saving habits.
They have excess profits and want to distribute these profits to customers
25
One item you will NOT need to provide when opening up a bank account.
Name and address
Initial Deposit
A witness
Social Security Number

Unit 4 Study Session (Fin Lit) Flashcards | StudBud