Quiz
Your Personal Information
1. Who is ultimately responsible for ensuring that your checking account is balanced?
The financial institution where you have your checking account You, the checking account holder An independent checking account management service
2. What is considered essential to sound checking account management?
Maintaining at least a few hundred dollars in the account Maintaining a balanced checkbook Calling your financial institution every month
3. What check deposit method is recommended to avoid having checks lost or stolen?
Paper checks Direct deposit All deposit methods are equally safe from theft
4. To resolve an outstanding debt that has been reported to ChexSystems you must:
Pay either ChexSystems or the financial institution, depending on who currently holds the debt Wait for ChexSystems to stop reporting the debt Pay the merchant to whom the check was initially written
5. To best ensure your account information is secure, you should:
Keep your checks and cards on your person at all times Only carry cards and checks you plan on using Keep all cards and checks in a safe deposit box
6. When should you list debits and credits in your checkbook register?
Every time you make a transaction Weekly Monthly
7. If you use a debit card:
Money is immediately taken out of your checking account The amount is deducted from your checking account at a specific time each month You are borrowing against funds in your checking account
8. You can be held responsible for up to $500 of fraudulent ATM charges if:
You did not report the loss within 24 hours You did not report the loss within two business days You did not report the loss within 60 business days
9. You want to deposit a check into your checking account. You should:
Endorse the check with your signature Endorse the check with your signature and social security number Endorse the check with your signature and account number
10. To keep track of the checks you write, make sure you always record:
The date the check was cashed The number of checks you have remaining What the check was for
