Chapter 29 Review-Application Question Preview (ID: 41808)
Ch 29 Review Quesitons.
TEACHERS: click here for quick copy question ID numbers.
True or False: Most banks offer several types of checking accounts.
a) True
b) False
c)
d)
A regular checking account is designed for customers who keep a regular amount of money in it from month to month.
a) True
b) False
c)
d)
How many people, or parties, are usually named on a check.
a) One
b) Two
c) Three
d) Four
True or False: It is necessary to sign your name exactly as it is written on the front of the check.
a) True
b) False
c)
d)
True or False: If a check is made out to cash, it cannot be cashed because there is no one who can endorse it.
a) True
b) False
c)
d)
A payee is
a) the bank where the check is deposited
b) the business or person to whom the check is written
c) the bank where the check is deposited
d) the person who has a checking account and wrote the check
A regular checking account is
a) one in which checks are written at regular intervals.
b) one in which a customer must keep a minimum balance.
c) one in which an average daily balance as required by the bank
d) designed for customers who write a few checks each month.
A record of an account holder's signature used to verify the identity is called a(n)
a) identity card
b) signature record
c) signature card
d) identity record
Online banking allows customers to
a) check their balances
b) pay bills
c) transfer money
d) all of the above
The main advantage of checking accounts is that
a) they enable consumers to keep records of their financial transactions
b) they yield a higher interest rate than savings accounts
c) consumers can check their balances at any time
d) consumers can make deposits at any time
The person who wrote the check and is paying the money is the
a) Payee
b) Drawee
c) Drawer
d) Endorser
A check presented for payment must include the drawer's
a) home phone number
b) license number
c) signature
d) social security number
Which statement is true
a) If your checkbook is stolen, someone may use it to steal money from your account.
b) Lost deposit slips allow someone else to put money into your account.
c) Your bank statements are generated by your transactions, so there is no need to review them.
d) You must write your social security number on your check.
What is the first thing you should do when reconciling a checking account?
a) Stop payment on any outstanding checks.
b) Determine whether the bank has processed all outstanding checks and deposits.
c) Wait for all checks to clear.
d) Don't make any withdrawals until the balance in your check register coincides with the bank statement.
If CASH is written on the payee line, then
a) only the account holder can cash it
b) the amount of the check can be changed
c) the check is not negotiable
d) anyone who has the check can cash it
When reconciling your checking account,
a) add any outstanding checks to your statement balance.
b) subtract any outstanding checks from your statement balance.
c) subtract any outstanding deposits from your statement balance.
d) add service fees from the balance in your check register.
Play Games with the Questions above at ReviewGameZone.com
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 41808 in the upper right hand corner or click here.
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 41808 in the upper right hand corner or click here.
TEACHERS / EDUCATORS
Log In | Sign Up / Register
Log In | Sign Up / Register