1. Banking- Lesson 1 Review
Objectives:
To explain the different types of banking services for short term and long term needs
To explain the different types of electronic banking services and the regulations and fees that are associated with them.

2. On 10/1/2016, A friend and I completed a deck renovation for a Mr
On 10/1/2016, A friend and I completed a deck renovation for a Mr. Eric O’Neil. He filled out a check for October 7, What is this Called?
Dating a check
Post Dating a check
Pre Dating a check
Non of the above

3. Brenda lost her debit card
Brenda lost her debit card. When she realized it was gone, her account had $173 in unauthorized charges. She notified her financial institution within two days. How much is she potentially liable for? 
A. $0.
B. $25.
C. $50.
D. This cannot be determined with the information provided.

4. Common payment choices for everyday activities include all of the following except… 
A. Cash.
B. Check.
C. Credit card.
D. Short-term loan.

5. Investments and tax assistance, both tools for financial planning, are also known as 
A. Checking accounts.
B. Loans.
C. Savings accounts.
D. Financial services.

6. When considering a financial institution for Short term needs, what service might you need?
A. Home Loan
B. Certificate of Deposit
C. Tax Preparation
D. Online Bill Pay

7. Brandon lost his debit card
Brandon lost his debit card. When he realized it was gone, his account had $238 in unauthorized charges. Since he was embarrassed about his loss, he didn't contact his financial institution for 45 days. What is the most that he is liable for? 
A. $0
B. $50
C. $238
D. $500

8. What is the circled part of the check called?
Bank Routing Number
Bank Check Number
Account Number
The Bank Zip Code

9. When considering a financial institution for long term needs, what investment services should you consider?
A. Regular Savings
B. Mutual Funds
C Tax Preparation
D Online Payments

10. Amy routinely checks her online banking statement every evening and notice a $2.00 fee was posted to her account. What action did she take that most likely caused the fee?
A. Filling her gas tank at the local convenience store.
B. Using an out of state ATM for tolls.
C. Requesting extra money back when she purchased her groceries.
D. Tipping her hair dresser by using her debit card.

11. Sam deposited $200 on Sunday using his bank’s local atm
Sam deposited $200 on Sunday using his bank’s local atm. How much of his cash will be available right away?
A. $200
B. $100
C. $0
D. Can not be determined based on the information provided.

12. Jane decided to sign for a transaction instead of entering her pin
Jane decided to sign for a transaction instead of entering her pin. What effect will this have on her checking account?
A. Jane’s transaction will take longer to clear
B. This will have no effect on her account
C. Jane’s transaction will take less time to clear
D. The merchant will decline her payment and force her to enter her pin

13. What is the circled part of the check called?
Bank Routing Number
Bank Check Number
Account Number
The Bank Zip Code

14. Eric received a letter in the mail that he would receive an excess payment fee if he continued transferring money between his savings and checking account using his online banking. How many transactions is he allowed per monthly statement?
A. Ten
B. Eight
C. Three
D. Six

15. What is the circled part of the check called?
Bank Routing Number
Bank Check Number
Account Number
The Bank Zip Code

16. Which of the following refers to the opportunity to withdraw money on short notice without incurring a loss in value? 
A. Compounding
B. Liquidity
C. Minimum deposit
D. Rate of return

17. Kelly got upset when she was in a rush to cash out and had to wait a minute longer to use her smart card at the register. In anger, she called her local bank and asked why they issued her a new card with an EMV chip in it. The Customer service representative informed her that the smart card differed from her previous card because…
A. Its cheaper for merchants to accept EMV cards
B. It allows banks to data mine your personal information
C. Each transaction is treated as a unique transaction which her personal information cannot be duplicated.
D. No one is exactly sure why

18. When checking online, RaLph saw that his available balance was different then his Current balance. What does this mean?
A. It means nothing, they are the same thing
B. Each bank is able to choose to use the words current or available.
C. Available balance reflects any holds against the accounts that may add or subtract from your current balance
D. None of the above