Module 6: Banking Test

What would happen if you used your debit card?

What are direct deposit, electronic funds transfers, and automatic monthly payments features of?

What does a certificate of deposit (CD) usually have?

Mike and Molly are part-owners of the institution. What financial institution are they a part of?

$200 in the account - $150 spent on clothes - $12 (4 ATM charges at $3 each) = ?

The financial institution is insured by the FDIC, and they have physical access to their institution country-wide

What is an ATM used for?

What is overdraft protection?

Which should you not do?

What is obtaining cash from an ATM similar to?

What should be done to outstanding checks when preparing a bank reconciliation?

Bobbi likes to see when checks have cleared in order to keep an accurate count of her money. Which feature keeps track?

Which services can be used to withdraw money?

When you receive your bank statement, you notice that you have a service fee for $5.00. What will you need to do?

What is the number of Federal Reserve Districts in the United Sates, each with its own Federal Reserve Bank?

The bank charges you for bouncing a $60 check. They charge you 8% on the money that is overdrawn if you have overdraft.

What will a service charge from the bank result in?

What agency performs central banking functions in the United States?

Up to how much of your money is insured by the FDIC or NCUA when it is kept in a financial institution?

Luke received a notice from his bank stating he wrote a check for $150.00 when he only had $100.00 in his account.

What does the Federal Deposit Insurance Corporation (FDIC) provide deposit insurance for?

What is money placed in a checking account called?

Who typically owns a credit union?

After reading the information below, which institution appears to be the best option for a teenager with limited cash?

What is used to add funds to a bank account?