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1• List the guidelines for selecting
a PIN number.
• Don’t pick a number that anyone else could figure out.
4• Checking account holders fill
this out when they first open their account to help the bank avoid accepting forged checks.
• Signature card
8• List an example of a service
provided by brokerage firms.
• Brokerage firms sell stocks, bonds, and other investment products. They also offer financial counseling.
10• Explain the difference between
a credit card and a debit card.
• Credit card=high interest loan
• Debit card=a way to access the $ in your checking account
11• Why should a checking account
customer avoid endorsing their check before they bring it to the bank to deposit it?
• If you lose it, someone else could cash it.
15• Name 1 advantage of having
your money in a bank account.
• Can’t lose it.
• Can’t be stolen.
• Interest.
18• What term describes a
transaction that has not appeared on your bank statement & has not cleared the bank?
• Outstanding
23• List a benefit to internet banking.• Can access balance & account
activity at any time. • Allows customer to transfer
money from one account to another.
24• “Pay to the order of David
Davidson, Sandy Sanderson” is an example of what type of endorsement?
• special
25• What is the purpose of the
verification number on the back of the debit card?
• This number is used for online transactions to prove the person ordering products has the card in their possession.
26• With this type of savings
account, the depositor gets a better interest rate but must leave their money in the account for a stated length of time.
• Certificate of Deposit (CD)
27• “For deposit only Account #
123456789, Jane Doe” is an example of what type of endorsement?
• Restrictive
28• When reconciling your
checking account, you _______ outstanding deposits to the bank balance.
• Add
33• A monthly record of all activity
within a bank account that is provided by the bank.
• Bank statement
34• True or False: A person may
claim 1 allowance on their W-4 if nobody else can claim them as a dependent.
• True
37• True or False: A checking
account customer can write checks until they run out of checks.
• False
41• True or False: It is only
necessary to sign a deposit slip if you are receiving part of your deposit back in cash.
• True
43• True or False: Direct deposit
is when an employee’s paycheck is automatically put into their bank account on payday.
• True
Final Question Directions
• Write down your bet. You must bet at least 1 point. You may bet up to the number of points your group has scored.