Banking Services Quiz

1. A pawnshop offers loans to people starting their own business.

True

False

2. Opening a checking account requires completing a signature card.

True

False

3. A blank endorsement allows anyone to cash a check.

True

False

4. A "smart card" stores a person's bank balance right on the plastic card.

True

False

5. An outstanding check refers to one written on an account with a very low balance.

True

False

6. The highest loan rates usually occur when borrowing from a:

bank.

credit-card company.

pawnshop.

credit union.

7. A (fill in the blank) is used to add funds to a bank account.

check

deposit slip

signature card

withdrawal slip

8. A (fill in the blank) endorsement includes the words "FOR DEPOSIT ONLY."

full

special

blank

restrictive

9. Obtaining cash from an ATM is similar to:

writing a check.

making a deposit.

opening a new account.

earning interest on your account.

10. A service charge on your bank statement will result in:

a higher balance.

a lower balance.

earning more interest.

more outstanding checks.

BANKING SERVICE QUIZ ANSWERS

  1. False
  2. True
  3. True
  4. True
  5. False
  6. pawnshop
  7. deposit slip
  8. restrictive
  9. writing a check
  10. a lower balance