Money Matters
Spring 2012
Unit 5 – Your Money: Keeping it Safe and Secure
Test Review
Matching:
a.
b.
c.
d.
e.
f.
g.
Debit Card
EFT
Bank
Restrictive Endorsement
ATM Fee
Check Register
Bank Statement
h.
i.
j.
k.
l.
m.
n.
Blank Endorsement
Deposit Slip
On-line Banking
Checking Account
Credit Union
Checks
Verification Number
o. Identity Theft
p. Automated Teller Machine
q. Reconcile
r. Savings Account
s. Special Endorsement
t. Bounced Check
1.
Occurs when someone uses your name, Social Security number, credit card number, or other personal
information without your permission
2.
Type of endorsement where all you do is sign the back of the check
3.
Legal documents that function like cash that are tied to your bank account
4.
Place to record all transactions including deposits, checks, debit card purchases, additional fees, and
ATM use
5.
A for-profit company, owned by investors in its stock; available for anyone to open an account
6.
The 3-digit code on the back of your credit card
7.
View your savings and checking account activity, transfer money between accounts, and even pay bills
with just a few clicks of the mouse
8.
Type of endorsement where you write “pay to the order of” and the name of the person you want to
transfer the check to
9.
Fees charged by banks to use their ATM machines
10.
Machine that allows you to withdraw cash and make deposits for your bank account, often for a fee
11.
Method by which employers can deposit your paycheck directly into your bank account
12.
A common financial service used by many customers that helps you to manage money and pay bills
more conveniently without have to carry large amounts of cash
13.
Type of endorsement where you write “for deposit only” and the account number where the money
will be deposited, above the signature
14.
Contains the account holders account number and allows money (cash or check) to be deposited into
the correct account
15.
A check that cannot be processed because the writer has insufficient funds
16.
Plastic card that is electronically connected to an individual’s bank account
17.
A place to deposit money you don’t plan to spend right away
18.
Shows all transactions that have occurred in your bank account(s) in a specific timeline; usually a
month
19.
A financial institution owned by their customers, who are also called members; serves a defined
segment of the population
20.
The process used to balance the checkbook register each month to the balance shown on the bank
statement
Money Matters
Spring 2012
Multiple Choice:
____ 21. The identification numbers at the bottom of a check include all of the following information EXCEPT:
a. Routing Number
b. Social Security Number
c. Account Number
d. Check Number
____ 22. What is one benefit to using a debit card that is not a benefit of using a credit card to make a
purchase?
a. Easy to carry
b. Purchase is paid in full without adding to
debt
c. Able to make purchases on demand
d. Transactions can be verified on a monthly
statement
____ 23. You can’t find your credit card, and you think it may have been stolen. What should you do?
a.
Wait at least 90 days to report the card as
missing or stolen in case you find the card
b. Immediately apply for another card to
cancel out the stolen card
c.
Contact your bank for a replacement
d. Call the credit card company as soon as you
are aware the card is missing
____ 24. A
endorsement names a 3rd party who can cash the check.
a. Blank Endorsement
c. Special Endorsement
b. Restricted Endorsement
d. Specific Endorsement
____ 25. Which of the following line item does NOT appear on a check?
a. Personal Information
b. Memo
c. Check Number
d. Deposit
____ 26. You need to deposit money into an account to use all of the following services except a
a. Credit card
b. Debit card
c. Savings account
d. Checking account
____ 27. If you “bounce” a check when you make a purchase at a clothing store, what could happen?
a. You will be charged a fee by the store
b. You will be charged a fee by your bank
c. Your credit score can be reduced
d. All of these
____28 . Who is responsible for keeping track of your debit card purchases?
a. The stores will send you statements after
c. Your bank or credit union
every purchase
b. You
d. The debit card company
____ 29. If you have been a victim of identity theft, what can you do to prevent someone from using your
personal information?
a. Stop using your accounts to see if there is
c. Place a fraud alert on your credit report
any activity that you did not authorize
b. Get a new Social Security number
d. Get a new photo ID
____ 30. Who is responsible for reporting identity fraud?
a. The person who was defrauded
b. Any of the 3 credit reporting agencies
c. The company that accepted the stolen card
d. The police
Money Matters
Spring 2012
True False
____ 31. Credit cards are plastic cards that are electronically connected to your bank account.
____ 32. When you use a debit card, you give your bank permission to immediately remove money from your
checking account.
____ 33. You should always write your checks in blue ink to avoid problems with check washing.
____ 34. A pro of using a debit card is that it doesn’t allow for overspending.
____ 35. A check with a blank endorsement can be cashed by anyone.
____ 36. Checks are legal documents that function like cash.
____ 37. Checks, credit cards, and debit cards can be used interchangeable for most things.
____ 38. A debit card requires a PIN to confirm the user of the debit card is authorized to access the account.
____ 39. If an ATM/debit card is reported stolen within 2 business days, the cardholder is only liable for $500.
_____ 40. You use an EFT machine to withdraw cash and make deposits.
Project
Fill in the check book and balance it against the bank statement provided.
20 points
Money Matters
Spring 2012
Answer Key
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B
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A
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F
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