Standard 3 & 4 Test - Jenks Public Schools

Name ___________________________
Class Hour________ Date ___________
Financial Literary
Standard 4 Study Guide
1. A check is defined as a written document ordering a financial institution to transfer
____________ from your ______________ to someone else.
2. When you receive your monthly bank statement, it is recommended that you use it to
__________________ your checking account.
3. Writing a check for insufficient funds (commonly called a “Hot Check”) can result in
expensive __________, ________________, and even _________________ time, if
4. The first set of numbers at the bottom of your check is called___________________
___________________ ____________________.
5. In which format would you write the amount of the check in the small space that starts
with the dollar sign of you bought something for one hundred dollars? $___________.
6. A debit card is the same as a ______________, only in plastic form.
7. Deposits represent money that is ______________ to your checking account.
8. Circle true or false: A check is a legal document and therefore, must be filled in
correctly; otherwise, banks or other businesses may refuse to accept it s payment.
9. The primary purpose of a check or debit card is to make it easier for people to buy
__________ and ___________, pay bills, and make other financial transactions.
10. When using a debit card, it is important to remember to ____________ down all
transactions and __________ them from your account balance.
11. Compute your new balance in your checking account after making the following
Your beginning balance is $157.28
You get $20 in cash at the ATM
You deposit a check for $35 from your mom into the account.
You write a check for $69.74 to pay for a new book bag and school supplies.
Your new balance is: _____________
12. Reconciling a bank statement is used to determine if there are any
________________________ in your records.
Name ___________________________
Class Hour________ Date ___________
13. Use the information below to fill out the check.
 Your name is “Jane Smith.”
 You are writing a check to pay for a new software package at Scentsy, Inc.
 The amount of the purchase is $65.43
 Use today’s date on your check.
123 Main Street
Anywhere, OK 73125
Pay to the
Order of______________________________________________$
Your bank
456 Money St
Anywhere, Ok 73125
:123456789: 7851005100”1001
14. Use the following information to complete your deposit slip.
a. $31.32 in change.
b. A Check from your grandmother for $40.
c. You do not want to keep any cash.
Your Name
Your Address
Your Phone Number
Deposits may not be available for immediate withdrawal
Sign here if cash received from deposit
Less Cash Received
Net Deposit
Your financial institution information