1) This is the income you receive after all the deductions have been taken from your paycheck.
A)W-2
B)FICA
c)Gross income
D)Net income
E)W-4 form
2)If you use an ATM card or a Debit card, transactions will be treated as if you have written a check.
A)false
B)true
3)Before an employer can deduct taxes from your paycheck this form must be filled out.
A)W-2 form
B)FICA
C)Gross Income
D)Net Income
E)W-4 form
4)This abbreviation represents social security payments taken on a paycheck.
A)W-2 form
B)FICA
C)Gross income
D)Net income
E)W-4 form
5)Choose the endorsement that is representative of the example:
A)Jilly Flower
B)134 263 894
C)blank endorsement
D)restrictive endorsement
E)special endorsement
6)An ATM card is used on January 24 to withdraw cash. What is the balance after this transaction?
A)8.53
B)6.53
C).00
D).00
7)On January 20, a payroll check is automatically deposited. What is the current balance?
A).00
B)8.53
C)2.50
D)8.53
8)The FDIC insures all bank accounts up to:
A),000
B),000
C)0,000
D),000,000
9)A check, which has cleared the bank, can still bounce.
A)false
B)true
10)A type of check that you can purchase for a fee from banks or travel agencies is a ______________________.
A)cashier’s check
B)traveler’s check
C)bank check
D)money order
11)A financial account that allows you to withdraw and deposit money using a check, debit card or ATM card is a _______ account.
A)cashier’s
B)checking
C)traveler’s
D)endorsement
12)To write a person’s own signature on the back of a check before cashing, depositing or giving it to some one else is called an ____________.
A)owner’s signature
B)endorsement
C)ancillary signature
13)One advantage of check writing is:
A)You have a written record of your payment
B)You can use it in ATM machines everywhere
C)You can get cash from ATM machines with it
D)You have to pay a fee for using it in an ATM machine
14)A check register allows you to:
A)keep track of the interest paid on your account
B)automatically record your debit card purchases
C)record the date and amount of each transaction you make every time you make one
D)automatically record your deposits
15)The amount of checks or debits listed on the January bank statement is______________.
A)8.53
B)6.53
C).00
D)4.47
16)If you write “Pay to the order of Jane Doe” and sign your name on the back of your check, it is considered:
A)a restrictive endorsement
B)a blank endorsement
C)a special endorsement
D)not an endorsement
17) A debit card is used to purchase groceries at Fresh Foods on January 22. What is the balance after this transaction?
A)2.50
B).00
C)8.42
D)8.53
18)Insurance that guarantees that if your institution fails, you will not lose up to 0,000 of your money in that institution is called:
A)FDIC
B)banking insurance
C)State Farm
D)home owner’s insurance
E)FDA
19)The Truth in Savings Act requires banks to:
A)disclose the annual percentage yield on your account
B)raise their interest rates monthly
C)charge monthly fees for your account
D)offer online checking accounts
20)A deposit would appear as a debit on your bank statement.
A)false
B)true
21)All banks offer the following service:
A)on-line checking
B)person to person tellers
C)phone checking
D)deposits and withdrawals
22)At the end of every year, before you can file your taxes, your employer must send you this form.
A)W-2 form
B)FICA
C)Gross income
D)Net income
E)W-4 form
23)When you use your debit card to get cash you have:
A)deposited money in your checking account
B)withdrawn money from your checking account
C)added to your checking balance
D)reconciled your checking account
24)Add line 2 and line 3 on your reconciliation form. What is the sum for line 4?
A)8.53
B)6.53
C).00
D)4.47
25)Choose the endorsement that is representative of the example:
For Deposit Only
A)Jilly Flower
B)134 263 894
C)blank endorsement
D)restrictive endorsement
E)special endorsement