CSB Financial Education 3

Managing a Checking Account

Welcome to Cambridge Savings Bank's Financial Education Program! We'd like to learn what you

know - and what you may be unsure of when it comes to managing your money. Let's get started!

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1. Please select your group number and survey you are taking today.

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2. Banks typically open an individual checking account for customers at what minimum age?

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3. What is a check register?

A form that you use to register your account with an employer for direct deposit

A form that you use to register your checking account for either online or paper statements

A booklet in which you keep track of all of your deposits and withdrawals

Not sure

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4. What is a double-endorsed check

A check that must have two signatures on the front to make it valid

A check that is signed on the back by two people

A check that has different values for the written and numerical amounts

Not sure

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5. What is the main difference between a debit card and a credit card?

Only credit cards offer reward points

You can only get cash from a debit card

Debit cards take money directly from your checking account

Not sure

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6. What are two ways that you can make a purchase with a debit card?

Credit or Debit

Debit or Cash

Credit or Cash

Not sure

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7. Who is the "Payee" on a check?

The person who pays the check

The bank upon which the check is drawn

The person to whom the check is made out

Not sure

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8. What are "Uncollected funds?"

Money that a bank fails to collect from another bank when a check is insufficient

Money that is not yet available for withdrawal

Money that is owed to a bank by someone who overdraws their account

Not sure

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9. What is a bank's "Fee Schedule?"

A schedule of when a bank charges its fees

A way that customers can choose on which day of the month maintenance fees are charged

A listing of a bank's fees

Not sure

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10. Direct deposits of your paycheck are available to withdraw when?

Immediately

After one business day

After one calendar day

Not sure

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11. The 18/65 Law

Was passed in 1865

Applies to individuals between 18 and 65

Applies to individuals under 18 or over 65

Not sure