Banking Jeopardy

1. Banking Jeopardy Banking Terms Signing a Check Electronic Banking Savings Accounts 100 100 100 100 200 200 200 200 300 300 300 300 400 400 400 400 500 500 500 500 Double Jeopardy

2. Banking Terms – 100A written order of a bank depositor upon a bank to pay a certain amount on demand to a specific party Check

3. Banking Terms – 200A cash substitute for vacationing that is issued against loss or theft and that is sold by a bank Traveler's Checks

4. Banking Terms – 300 A depository institution owned by its members and organized for their benefit Credit Union

5. Banking Terms – 400A depository institution that offers a full range of services such as checking, savings, and lending Commercial Bank

6. Banking Terms – 500Tells how much interest a financial institution would pay on $100 for one year Annual Percentage Yield (APY)

7. Electronic Banking – 100When your paycheck is put into your checking account automatically Direct Deposit

8. Electronic Banking - 200A monthly payment or bill that comes directly out of your account Automatic Payment

9. Electronic Banking– 300The actual card used to access an ATM machine Debit Card

10. Electronic Banking– 400A computer terminal that lets you withdraw cash from your account, make deposits, and transfer money ATM

11. Electronic Banking – 500Daily Double! Prepaid cards that you can spend for long-distance calls, store gift certificates, etc. Stored Value Cards

12. Savings Accounts – 100Regular savings accounts are often referred to as this Passbook savings or time deposits

13. Savings Accounts– 200A time deposit that requires you to leave your money in a financial institution for a set period of time (1 month, 3 months, 6 months, 1 year, etc.) If you withdrawal before that time, you receive a penalty. CD (Certificate of Deposit)

14. Savings Accounts– 300Like a savings and checking account combined. Pays better interest than a regular savings, but allows you to write 3 checks each month. A higher balance is required. Money Market

15. Savings Accounts– 400If you purchase a savings bond for $25, what will its face value be when it reaches maturity? $50

16. Savings Accounts– 500What is an advantage to purchasing a CD? Better interest than a savings account Low risk compared to stocks

17. Signing a Check – 100The proper term for signature Endorsement

18. Signing a Check– 200The type of endorsement that is just your signature Blank Endorsement

19. Signing a Check– 300The type of endorsement you use when you send a check through the mail to be deposited Restrictive Endorsement

20. The type of endorsement you use when you want to transfer a check over to another party Signing a Check – 400Daily Double! Special (full)

21. Signing a Check– 500If you are using a special endorsement, what do you write on the bank of the check? Pay to the order of Their signature Your signature

22. Banking Jeopardy Balancing Your Checkbook Banking Math Deposits Checking 200 200 200 200 400 400 400 400 600 600 600 600 800 800 800 800 1000 1000 1000 1000 DOUBLE JEAOPARDY Final Jeopardy

23. Checking – 200A small booklet that you use to record the activity in your checking account Check Register

24. Checking– 400Daily Double! If you open a checking account with another person, what type of account is it? Joint Account

25. Checking– 600If a joint account is set up as an “and” account, can one person sign the check or do both people have to sign it? Both

26. Checking – 800 Which numbers have hyphens when you write them in words on a check 21-99

27. Checking– 1000List all the items you fill in when writing a check Date, Who you are paying, Amount in figures and words, Your signature, memo

28. Deposits – 200Insures each bank account up to $100,000 FDIC Federal Deposit Insurance Corporation

29. Deposits– 400 When completing a deposit slip, what three categories are the deposits divided into? Coin Currency Checks

30. Deposits– 600What you need to remember to do when you are asking for cash back from a deposit slip Sign the slip

31. Deposits – 800 On a check, what is the number in the top right corner below the check number? Bank routing number

32. Deposits– 1000List the four ways to list a check on a deposit slip Check number Payee’s name State bank is located Bank routing number

33. Balancing Your Checkbook – 200What six types of checking transactions are listed on your bank statement? Checks, ATM’s, Deposits, Auto Payments Service Charge, Interest

34. Balancing Your Checkbook– 400 A request that a bank not cash a particular check Stop Payment

35. Balancing Your Checkbook– 600Checks and deposits that have not cleared the bank Outstanding

36. Balancing Your Checkbook – 800 The proper term for balancing your check register with your bank statement Reconciling

37. Balancing Your Checkbook– 1000What do you add and subtract from your check register when reconciling? Add the interest Subtract service charges

38. Banking Math – 200Round .3972 to 2 decimal places .40

39. If you buy something for $32.40 and the sales tax is 5%, what is the total of your purchase? Banking Math– 400 32.40 * .05 = $1.62 32.40 + 1.62 = $34.02

40. Banking Math– 600If a bank loans you $1,500 for one year at 7.5% interest, how much would you have to repay? 1500 * .075 = 112.50 1500 + 112.50 = $1,612.50

41. Banking Math – 800 What would your total monthly payment be on a one year $1,500 loan at 7.5% interest? 1,500 X .075 = 112.50 1500 + 112.50 = $1,612.50 1,612.50/12 = $134.38

42. Banking Math– 1000If you deposit $100 at 5% interest, how much will you have after 4 months? (100 * .05)/12 = .42 (100.42 * .05)/12 = .42 (100.84 * .05)/12 = .42 (101.26 * .05)/12 = .42 $101.68

43. Final Jeopardy List the steps for reconciling your check register with the bank statement (Parts A & B). 1. Determine whether any deposits are not on the bank statement (add these in) 2. List all outstanding deposits in order on the back of the bank statement and total them up (subtract the total)