Chapter One - Loup County

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Chapter Three
Review
Directions
 Answers the questions the best you can.
 Click on the answer you think is correct.


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slide to move to the next question.
If you are wrong, you will need to click anywhere on the
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 If you find any problems with the presentation,
please let me know so it can be corrected.
GOOD LUCK!!
Vocabulary Review
An electronic method allowing you to pay bills
using your home computer is ????.
a.
b.
c.
d.
Electronic Funds Transfer (EFT)
online banking
transaction
direct deposit
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Vocabulary Review
The amount of money in a checking account is
called a(n) ????.
a.
b.
c.
d.
compound amount
check register
balance
bank statement
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Vocabulary Review
The total in a savings account at the end of a period
after interest is added is called the ????.
a.
b.
c.
d.
compound amount
compound interest
balance
interest
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Vocabulary Review
A printed report of bank transactions given to a
depositor is called a(n) ????.
a.
b.
c.
d.
deposit slip
reconciliation form
check register
bank statement
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Vocabulary Review
A savings plan also known as a time deposit or
savings certificate is called a(n) ????.
a.
b.
c.
d.
compound amount
online banking
certificate of deposit (CD)
term
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Vocabulary Review
A record you keep of deposits made and checks
written is called a(n) ????.
a.
b.
c.
d.
check register
bank statement
certificate of deposit (CD)
deposit slip
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Vocabulary Review
When employers send the pay of employees to their
bank account instead of issuing a paper check,
they are making a(n) ????.
a.
b.
c.
d.
Electronic Funds Transfer (EFT)
direct deposit
online banking
transaction
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Vocabulary Review
The movement of money from one bank’s computer
to another computer is called ????.
a.
b.
c.
d.
direct deposit
Automated Teller Machine (ATM)
Electronic Funds Transfer (EFT)
transaction
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Vocabulary Review
The fixed period of time money is on deposit in
a savings account is called the ????.
a.
b.
c.
d.
interest
maturity date
term
service charge
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Numerical Review
Justin Nucci listed these items on his deposit slip:
(bills) 9 one-hundreds, 27 fifties, 83 fives, 141
ones; (coins) 13 quarters, 117 nickels; (checks)
$317.94, $57.89, $527.24, $77.49. He received
cash back of 30 twenties and 11 tens. What total
deposit did he make?
a.
b.
c.
d.
$4,195.91
$2,985.66
$2,040.10
$980.56
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Numerical Review
Zora Omar had a balance of $1,189.17 in her checking
account. She wrote checks for $62.41, $224.14,
$12.92, and $357.16. Her deposits were $197.34
and $879.13. What was Zora’s new bank
balance?
a.
b.
c.
d.
$2,922.27
$112.70
$1,785.80
$1,609.01
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Numerical Review
At the start of the day, Grade Williams’ checking account
had a $201.87 balance. She used her debit card to pay
$56.12 for groceries and $28.45 for cleaning. Grace
then transferred $150 to her checking account from
savings using her bank’s ATM. She also directed her
bank to transfer funds electronically from her checking
account to pay a charge account bill of $187.12. What
was the balance of Grace’s checking account at the end
of the day?
a.
b.
c.
d.
$80.18
$323.56
$623.56
$454.42
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Numerical Review
Basil Tomlin’s online checking account had a balance of
$371.07. The balance did not include a direct deposit of
$672.80 that will be transferred to the checking account
by Basil’s employer at 11:00 a.m. Basil’s bank will
automatically deduct a house payment of $720 at the
end of the business day. Basil plans to make online
payments for $34.85, $90.29, and $368.20. How much
money does Basil need to transfer to compete these
transactions and still have a balance of $100?
a.
b.
c.
d.
$169.47
$269.47
$942.27
$47.20
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Numerical Review
Giselle Mulroon’s bank statement shows a balance of
$539.22. Checks outstanding were #841 for
$29.67, #843 for $89.02, and #844 for $9.76. A
$130 deposit was outstanding. Reconcile
Giselle’s bank statement.
a.
b.
c.
d.
$280.59
$280.59
$540.77
$410.77
Correct!
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Numerical Review
Elva Mayberry’s check register balance was $641.18.
Her bank statement listed several items that did
not appear in Elva’s check register. These include
interest earned of $0.48, a service charge of
$2.80, and two ATM withdrawals of $300 each.
Reconcile Elva’s check register.
a.
b.
c.
d.
$37.90
$1,244.46
$38.86
$643.50
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Numerical Review
Henry Sokol’s bank statement balance on June 30 was $845.43. His
check register balance was $247.62. His comparison of the
two records showed a check for $85 was recorded twice in
the register, a check for $138.11 was recorded as $183.11,
and an ATM deposit of $368 and a debit card purchase for
$81.10 were not recorded in the register. Also, an ATM
withdrawal of $50 and interest earned of $0.82 were not
recorded. Three checks were outstanding: $191.22; $23.87;
$15. Reconcile Henry’s bank statement and check register.
a.
b.
c.
d.
$1,213.15
$17.53
$615.34
$614.52
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Numerical Review
Bob Rowinski made a $4,000 deposit to a savings
account paying 1.6% annual interest
compounded semiannually. If he kept the
money on deposit for 6 months, what would his
account balance be after the interest payment is
made?
a.
b.
c.
d.
$7,200
$4,640
$4,032
$3,032
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Numerical Review
On April 1, Preston McCord deposited $1,400 in a
passbook savings account that pays annual
interest of 3.2% compounded quarterly. If he
made no deposits or withdrawals in the account,
what interest could he earn by keeping his
money on deposit until October 1?
a.
b.
c.
d.
$1,848
$22.49
$1,444.80
$44.80
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Numerical Review
Sonya Lister’s 6-month CD pays 5.3% simple
interest. Her deposit to the CD was $4,500. At
the end of each 6-month period, Sonya
withdraws the interest earned and renews the
CD on its original terms. What total interest will
Sonya have earned at the end of one year?
a.
b.
c.
d.
$2,385
$238.50
$1,192.50
$477
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Numerical Review
Dale Lawrence had $80,000 on deposit in a six-month
CD paying 2.72% simple interest. At the end of
three months, Dale withdrew $4,000. The penalty
for early withdrawal of money from this CD is
one-month interest. What was the amount of the
penalty Dale had to pay?
a.
b.
c.
d.
$2,176
$9.07
$1,088
$108.80
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You have completed the review.
Good luck on the test!
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