HELP With Checking account questions?

Question

Question 1 (Multiple Choice Worth 4 points)

A deposit would appear as a debit on your bank statement.

false

true



--------------------------------------------------------------------------------



Question 2 (Multiple Choice Worth 4 points)

What is the balance after the transfer on January 17?

$242.50

$15.00

$33.00

$40.00



--------------------------------------------------------------------------------



Question 3 (Multiple Choice Worth 4 points)

What is another term for a bounced check?

net income

check account

non-sufficient funds (NSF)

endorsements

withdrawal



--------------------------------------------------------------------------------



Question 4 (Multiple Choice Worth 4 points)

The balance in your checkbook:

is only correct if your record all transactions made by you and your bank

never needs to be reconciled

is always mathematically correct

is not important



--------------------------------------------------------------------------------



Question 5 (Multiple Choice Worth 4 points)

To reconcile a checking account, you have to make sure your check register and the bank's statement agree on how much is in the account.

false

true



--------------------------------------------------------------------------------



Question 6 (Multiple Choice Worth 4 points)

When you use your debit card to get cash you have:

deposited money in your checking account

withdrawn money from your checking account

added to your checking balance

reconciled your checking account



--------------------------------------------------------------------------------



Question 7 (Multiple Choice Worth 4 points)

All banks offer the following service:

on-line checking

person to person tellers

phone checking

deposits and withdrawals



--------------------------------------------------------------------------------



Question 8 (Multiple Choice Worth 4 points)

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 ____________.

owner's signature

endorsement

ancillary signature



--------------------------------------------------------------------------------



Question 9 (Multiple Choice Worth 4 points)

One advantage to using your debit card is:

You don’t have to subtract it from your checking account balance

It is safer than carrying cash

You can spend as much as you want

You can give your friend the PIN number in case you forget it.



--------------------------------------------------------------------------------



Question 10 (Multiple Choice Worth 4 points)

Insurance that guarantees that if your institution fails, you will not lose up to $100,000 of your money in that institution is called:

FDIC

banking insurance

State Farm

home owner's insurance

FDA



--------------------------------------------------------------------------------



Question 11 (Multiple Choice Worth 4 points)

This service is NOT important when comparing banks:

debit card design

hours of operation

convenience of location

monthly fees and minimum balance required



--------------------------------------------------------------------------------



Question 12 (Multiple Choice Worth 4 points)

At the end of every year, before you can file your taxes, your employer must send you this form.

W-2 form

FICA

Gross income

Net income

W-4 form



--------------------------------------------------------------------------------



Question 13 (Multiple Choice Worth 4 points)

What type of deposit is illustrated below?

Pay to the order of

K.C. Thurman

Jilly Flower

134 263 894

restrictive endorsement

blank endorsement

special endorsement



--------------------------------------------------------------------------------



Question 14 (Multiple Choice Worth 4 points)

What is the amount of the check written for Brent's Hair Designs on January 16?

$40.00

$208.53

$-33.00

$62.40



--------------------------------------------------------------------------------



Question 15 (Multiple Choice Worth 4 points)

When using a debit card:

There are always fees

Identification is always required.

You still need to carry a checkbook to record transactions

You are not personally liable for more than $50 if it is stolen



--------------------------------------------------------------------------------



Question 16 (Multiple Choice Worth 4 points)

The Truth in Savings Act requires banks to:

disclose the annual percentage yield on your account

raise their interest rates monthly

charge monthly

Answer 1

1. Don't know.

2. Skip.

3. Nonsufficient funds.

4. is only correct if your record all transactions made by you and your bank

5. Don't know.

6. dont' know.

7.

8.

9. It is safer than carrying cash.

Answer 2

It depends on the bank you are using. Some banks only charge a one time fee each time you overdraw your account. Other banks charge you interest each day on the amount that you are overdrawn. And even still, some banks will charge both a fee each time you are overdrawn and interest on the amount that you are overdrawn. Call the bank and work out a payment plan. Also, find out what their overdraft policies are. Some banks will give you 30 days to bring the balance up into the positive and others will just instantly close the account, depending on your account history.

Answer 3

For the best answers, search on this site https://shorturl.im/sp4zM



They will not charge fees for each day you are overdrawn. But keep in mind that the fees charged for future overdrafts will be based on the number of days you were overdrawn not the number of events overdrawing your account. So if you are overdrawn for 5 business days, next time you will pay a higher fee then you would if it was only one day.

Answer 4

do your own home work. No wonder we have stupid young adults, you abuse those of us who would held others, but you ask us to do your home work so you don't have to. Shame on you. Go to school, and learn to be come an adult.