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Unit 2
Unit 3
Unit 4
Quiz
Managing Your Checking Account
Section Quiz
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To manage your checking account you should:
a. review statements or transaction records
b. identify errors or unauthorized use of your account
c. reconcile account balance
d. all of the above
Before choosing a checking account you should make certain to:
a. determine how you are going to use the account
b. review your credit history
c. obtain a credit report
d. obtain a ChexSystems report
If your debit card is stolen you are covered by liability laws if you contact the bank within how many days?
a. 2 days
b. 4 days
c. 5 days
d. 7 days
Using a ATM outside your credit union network will result in:
a. surcharge
b. late fee
c. overdraft
d. balance transfer
Balancing your checking account each month will allow you to:
a. keep track of how much money you have
b. avoid overdrawing your account
c. catch mistakes and identify unauthorized activity
d. all of the above
A negative ChexSystem report will prevent you from opening an account for how many years?
a. 2 years
b. 3 years
c. 5 years
d. 7 years
A fee charged for insufficient funds in a checking account:
a. nonsufficient funds
b. overdraft fees
c. ATM fees
d. balance transfer fee
A withdrawal from a bank account that exceeds the available balance will result in:
a. overdraft fees
b. ATM fees
c. balance transfer fees
d. none of the above
What is the risk of post-dating a check?
a. overdraft account
b. Chexsystems report
c. nonsufficient funds
d. all of the above
According to the chapter, it is recommended that you review your bank statement:
a. monthly
b. weekly
c. occasionally
d. often
