stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Banking Review! Flashcards | StudBud
Explore
/
Banking Review!
Banking Review!
18 terms
·
StudBud Administration
·
115 plays
#financial literacy
Flashcards
18 cards
F
Practice quiz
P
Host live
L
Questions
18
Answers
1
In writing how should $73.98 be written?
seven hundred three 98/100
seven-three and ninety -eight hundreds
seventy-three and ninety-eight
seventy-three and 98/100
2
In writing how should $240.00 be written?
two hundred and forty and 00/100
two hundred forty
two hundred forty and 00/100
two and forty and 00/100
3
It's ok to use an ATM in a dark parking lot late at night.
FALSE
TRUE
4
An amount of money a person pays the bank to borrow money is called ______.
savings
endorsement
a fee
interest
5
When using a check register, you should ADD money to your balance when you deposit money.
FALSE
TRUE
6
When you use your DEBIT card, your money comes directly from which account?
checking
savings
7
An ATM can be used for all of the following EXCEPT:
depositing money
paying a bill or a friend
transferring money between savings and checking
withdrawing money
8
The PAYEE on a personal check is the person/company you are writing the check TO.
FALST
TRUE
9
If you make a mistake when writing out a check, you should:
Use your debit card instead
Cross out the mistake and rewrite it.
Erase your mistake and rewrite it.
Void the check and write a new one OR initial & correct
10
In order to deposit a check into your bank account, which of the following MUST happen first?
see a bank teller inside the bank
ask your parents for permission
endorse the back of the check (sign it)
use an ATM
11
Banks pay YOU interest when they use your savings (money) to lend to others (borrowers).
TRUE
FALSE
12
The main purpose of a PIN number is to:
to share with family to help with your bank account
keep your bank account SECURE
13
Commercial banks are a business and their main goal is to make money.
TRUE
FALSE
14
When using a check register, you should SUBTRACT money from your balance when you spend money.
TRUE
FALSE
15
In writing how should $365.70 be written?
three hundred 65 and 70/100
three hundred and sixty-five and seventy cents
three hundred six five and 70/100
three hundred sixty-five and 70/100
16
Which of the following can you use to keep track of your checking account?
Phone app
All of the above
check register
online account statements
17
Banks make a PROFIT (money) when people pay interest on their loans.
TRUE
FALSE
18
A check register is used to:
keep track of your spending (transactions) & deposits
AVOID overdrafting your account
All of the above
AVOID declined transactions at the store
