Unit 10 Review Part 3 Question Preview (ID: 33846)
Unit 10 Review Part 3.
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Which of the following is NOT an example of e-banking?
a) A customer withdrawing money from an ATM
b) A customer entering a bank and handing a withdrawal slip to a teller to receive cash
c) A customer pre-authorizing a direct withdrawal from his/her account
d) A customer purchasing groceries with a debit card
A person who does not maintain a bank account for whatever reason is called
a) underbanked.
b) unbanked.
c) banked.
d) invested.
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) underbanked.
b) unbanked.
c) banked.
d) invested.
According to the FDIC, most households in the United States are
a) underbanked.
b) unbanked.
c) banked.
d) invested.
A person that has an account that is insured by the FDIC or NCUA is insured for up to
a) $1,000.
b) $100,000.
c) $250,000.
d) $1,000,000.
A(n) ________________ filing system stores records on paper.
a) electronic
b) manual
c) inadequate
d) All of the above
A(n) ________________ filing system stores digital (computer) records.
a) electronic
b) manual
c) inadequate
d) All of the above
A(n) ______________ filing system stores records in individual folders labeled with letters.
a) tickler
b) numerical
c) alphabetical
d) None of the above
A(n) ______________ filing system stores records in individual folders labeled with due dates.
a) tickler
b) numerical
c) alphabetical
d) None of the above
A(n) ______________ filing system stores records in individual folders labeled with numbers.
a) tickler
b) numerical
c) alphabetical
d) None of the above
a printed record of the balance in a bank account and the amounts that have been paid into it and withdrawn from it, issued periodically to the holder of the account is called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.
You should always reconcile your bank statement with your check register to
a) make sure you are right.
b) make sure the bank is right.
c) be on the alert for identity theft.
d) All of the above
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) $547.67.
b) $484.42.
c) $610.92.
d) $614.92.
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) in transit.
b) reconciled.
c) impossible to keep track of in your budget.
d) none of the above.
Which of the following should be included in your monthly budget?
a) Necessary expenses
b) Savings
c) An emergency fund
d) All of the above
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