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Unit 2 Test - Checking (fixed)

Last updated about 1 year ago
33 questions
1

How much money did John Jones have in his account on the first day of the statement period?

1

John has two ATM transactions but only one of them has a fee (Interac). Why?

1

Which statement(s) are true regarding Check No. - 409?

1

What is the impact of the Online Funds Transfer - From Savings that appears on John's statement?

1

The total amount of fees John paid this month was:

Decide if the following statements are true or false about the check below:

1

"Pay to the Order of Mrs. Smith" is written correctly.

1

The date is written on the correct line.

1

The amount in words is correct.

1

The signature is in the wrong spot.

You start with $500.00 in your checking account. Write the balance you have after each transaction. (You must go in order)

1

You buy a coffee at Wawa for $2.79

1

You pay your cell phone bill online for $75.18

1

You deposit a $35 check on your phone.

1

You withdraw $100 at an ATM and there is a $3 fee.

1

You transfer $142.77 to a friend for concert tickets.

Section 4: Multiple Choice. Choose the best answer. (the answer that makes the most sense based on discussions from class)

1

A person-to-person payment would best be used in which of these situations?

1

Mary just got a part-time job so she can attend a school trip abroad later this school year. Mary gets a paycheck on the 1st of every month, and a cash payment is due to the International Club advisor by the 3rd of every month with no exceptions. More than one late payment results in being removed from the trip. What recommendation do you have for Mary?

1

Kim gets a text alert from the bank that her account has dropped below $100 after a series of $20 ATM withdrawals. She has not used her ATM in over a week and wonders what she should do. What would you recommend?

1

Each of the following is a way to access money in your checking account EXCEPT...

1

Devon lives in a large apartment complex, and his rent is due by the first of each month to “Richardson Rental Properties and Housing Options, LLC” which has its office 45-minutes away in downtown Houston. Which payment option makes the most sense if Devon is trying to be responsible and efficient with his time?

1

Which of the following transactions will REDUCE your checking account balance immediately?

1

Which of these is the most convenient feature of using online and mobile banking?

1

Which action below is considered a best-practice for check writing?

1

When signing up for a new checking account you answer "Yes" to receive overdraft protection. On this day, you have $10 in your account. You go out and use your debit card to buy lunch for $12, a movie ticket for $12 and dinner for $15. What is likely to be the outcome resulting from these transactions?

1

You find three receipts from your activities today: (1) ATM withdrawal of $60 plus $3 out-of-network ATM fee, (2) Debit card used for grocery bill of $34 plus cash back of $20, and (3) ATM deposit of $90 from birthday checks. What is your current balance if you started the day with $300 in your account?

1

Which of the following transactions may NOT be reflected on your account balance if you go online to check your balances?

1

The largest source of fees for banks when it comes to checking accounts is...

1

How does a low-balance mobile alert on your checking account work?

1

When signing up for a new checking account you answer "No" to receive overdraft protection. On this day, you have $10 in your account. You go out and use your debit card to buy lunch for $12, a movie ticket for $12 and dinner for $15. What is likely to be the outcome resulting from these transactions?

1

Why is it so important to have a checking account?

1

While opening your checking account, the bank representative seems very interested in getting you to sign up for overdraft protection. What might explain his motivation?

1

Cam is moving from her childhood home in Scranton, PA to an apartment with her best friend in Los Angeles. She plans to stay 3-6 months to test whether she likes living on the West Coast, and then she may move again. Which of these is the BEST option for Cam when opening a checking account?

1

Which of the following is a good habit to protect your checking account information?

4

Tiana has $125 in her checking account. She wants to make a purchase for $160. Explain what would happen if: 


a) she had overdraft protection   
b) she did not have overdraft protection

Draggable itemCorresponding Item
helps avoid fees
having overdraft protection
transaction will not go through
not having overdraft fees