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Unit 10 Review Part 3
Test Description: Unit 10 Review Part 3
Instructions: Answer all questions to get your test result.
1) Which of the following is NOT an example of e-banking?
A
A customer purchasing groceries with a debit card
B
A customer withdrawing money from an ATM
C
A customer pre-authorizing a direct withdrawal from his/her account
D
A customer entering a bank and handing a withdrawal slip to a teller to receive cash
2) A person who does not maintain a bank account for whatever reason is called
A
invested.
B
unbanked.
C
underbanked.
D
banked.
3) People who do have a checking or savings account, but still do a lot of business with check-cashing services and pawn shops are called
A
unbanked.
B
banked.
C
underbanked.
D
invested.
4) According to the FDIC, most households in the United States are
A
banked.
B
unbanked.
C
invested.
D
underbanked.
5) A person that has an account that is insured by the FDIC or NCUA is insured for up to
A
$250,000.
B
$1,000.
C
$100,000.
D
$1,000,000.
6) A(n) ________________ filing system stores records on paper.
A
electronic
B
inadequate
C
manual
D
All of the above
7) A(n) ________________ filing system stores digital (computer) records.
A
All of the above
B
inadequate
C
electronic
D
manual
8) A(n) ______________ filing system stores records in individual folders labeled with letters.
A
tickler
B
None of the above
C
alphabetical
D
numerical
9) A(n) ______________ filing system stores records in individual folders labeled with due dates.
A
numerical
B
None of the above
C
tickler
D
alphabetical
10) A(n) ______________ filing system stores records in individual folders labeled with numbers.
A
alphabetical
B
None of the above
C
numerical
D
tickler
11) a printed record of the balance in a bank account and the amounts that have been paid into it and withdrawn from it, issued periodically to the holder of the account is called
A
withdrawal slip. deposit slip.
B
deposit slip.
C
check register.
D
bank statement.
12) You should always reconcile your bank statement with your check register to
A
be on the alert for identity theft.
B
make sure you are right.
C
make sure the bank is right.
D
All of the above
13) If your bank statement shows a balance of $547.67, and your register shows the following as unreconciled: • a check you wrote for $ 127.25 • an ATM withdrawal of $40.00 with a $2.00 ATM fee • a paycheck deposit of $232.50 then your register is:
A
$614.92.
B
$484.42.
C
$547.67.
D
$610.92.
14) Bank transactions that are not completed (such as a check that hasn't been cashed or a deposit that is still being processed by a bank) are
A
reconciled.
B
in transit.
C
none of the above.
D
impossible to keep track of in your budget.
15) Which of the following should be included in your monthly budget?
A
All of the above
B
An emergency fund
C
Necessary expenses
D
Savings
*select an answer for all questions
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