1) Dieter has just received his statement for his current account through the post. Is the following statement true or false? The balance shown on this statement is the amount of money that is in his account now a) True b) False 2) Liza has written a cheque from her bank account. The cheque appears on her statement. What details does Liza’s bank provide about the cheque? a) The name of the person she paid and the amount b) The number of the cheque and the amount c) The amount of the cheque only 3) Banks explain any charges that appear on a statement. Is this statement true or false? a) True b) False 4) What does the word ‘receipts’ mean when it appears on a bank statement? a) Money paid using a paper voucher b) Money paid out of the account c) Money paid into the account 5) Zeke has received his current account statement. The balance has a minus sign (–) written beside it. What does the minus sign mean? a) It is money that Zeke owes the bank b) It is money that the bank owes the Zeke c) It is money that is uncleared 6) Tammy wants to check her bank statement. She wants to make sure that the hole-in-the wall withdrawals listed on her statement are correct. What does she compare the statement entries to? a) Her chequebook stubs b) Her ATM printouts c) Her sales receipts 7) ackie has a savings account with Fidelity First Building Society. She is a basic-rate taxpayer and earned £53.80 gross interest in the current tax year. Is the following statement True or False. Jackie will pay no tax on her savings interest this year. a) True b) False 8) Checking current bank account statements regularly is a good way of ensuring that: a) interest rates have not changed. b) no-one has fraudulently accessed your account. c) you are always in credit. d) you are aware of all special offers available. 9) What do the letters ‘O/D’ stand for on a bank statement? a) On debit. b) On demand. c) Overdrawn. d) Overdue. 10) Which of the following shows details of transactions into, and out of, a bank account? Is it a bank a) flow b) receipt c) deposit d) statement 11) Josh receives his bank statement and notices that a minus sign is showing in front of the balance. This means that the account is: a) a joint account b) a student account c) in credit d) overdrawn 12) When you receive your bank statement, why should you check it against your own records? a) Because you can sue the bank if your statement is incorrect. b) So that you can account for any items not shown on the statement. c) To find out the numbers on the cheques you have issued. d) To make sure that your account details are still correct 13) Max has just received his bank statement. This is least likely to show which of the following about Max? His: a) account number. b) address. c) date of birth. d) name. 14) Why might a borrower need to show a lender a bank statement? a) As evidence of identity. b) As proof of how much they earn. c) So banks can make you aware of other products. d) To apply for a new passport. 15) In addition to the amount of transactions, a bank statement will also always show the: a) date that the transaction was processed. b) location of the transaction. c) precise time of the transaction. d) receipt provided during the transaction

Unit 2 Topic 6 Bank Statements

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