Checking Account Management Worksheet

Checking Account Management

Read each question carefully and provide your best answer. This worksheet will assess your understanding of managing a checking account.

1. Which of the following is NOT a common feature of a checking account?

2. What is the primary purpose of reconciling your checking account?

3. An overdraft fee is charged when you spend more money than you have in your  .

4. A   is a record of all transactions in your checking account over a specific period.

5. When you deposit money into your checking account, your account balance will  .

6. It is generally safe to share your debit card PIN with trusted friends or family members.

7. Banks typically charge a monthly maintenance fee for all checking accounts, regardless of balance.

8. Describe one advantage and one disadvantage of using a debit card instead of a credit card.

9. Explain what it means to 'balance your checkbook' and why it is important.

Use the words below to complete the sentences.

10. Many employers offer   as a convenient way to receive your paycheck.

11. You can withdraw cash from your checking account at an  .

12. Some checking accounts require you to maintain a   to avoid monthly fees.