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CHAPTER 4 TEST - Personal Finance 10/2015 Multiple Choice Identify the choice that best completes the statement or answers the question. ____ ____ ____ ____ ____ ____ 1. Luisa Perez had a balance of $541.82 in her checking account on January 7. On January 10 she wrote a check to Marty’s Hair Salon for $27.19. What is her new balance? a. $494.63 c. $514.63 b. $569.01 d. $27.19 2. Jamahl Jones earned $20.50 cutting grass, $16.50 babysitting, and $4.95 selling two baseball cards. He puts all but $10.00 in his checking account. What is his total deposit? a. $41.95 c. $31.95 b. $31.50 d. $30.00 3. Lincoln Jefferson sold his motor scooter and received a check for two hundred eighty-one and What is the amount of the check written as a numeral? a. $281.00 c. $281.01 b. $821.10 d. $218.10 4. The manager of Tony’s Pizzeria deposited money in the restaurant’s checking account at the end of the day. The deposit included 4 fifty-dollar bills, 9 twenty-dollar bills, 16 ten-dollar bills, 22 five-dollar bills, 16 one-dollar bills, 29 quarters, 14 dimes, 9 nickels, and 17 pennies. What was the total deposit? a. $675.27 c. $678.27 b. $675.10 d. $698.27 5. Colleen McHugh wishes to deposit checks for $13.75, $92.08, and $8.21 into her account. She would like to receive $15.00 in cash. What is her total deposit? a. $114.04 c. $115.94 b. $99.04 d. $99.54 6. Isaac Epstein received a bank statement showing the following amounts. What is his present balance? Previous Balance Deposits Checks Service Charge Interest Present Balance ____ ____ ____ dollars. $131.02 415.75 198.31 3.87 1.79 a. $344.99 c. $354.12 b. $357.70 d. $346.38 7. Lourdes Ramirez deposits the following in her checking account: 3 ten-dollar bills, 6 five-dollar bills, 9 one-dollar bills, 9 quarters, 11 dimes, 2 nickels, 47 pennies, and a check for $19.76. What is her total deposit? a. $72.68 c. $92.68 b. $92.21 d. $72.92 8. Catherine Hamilton owns a clothing boutique. She makes a deposit in her business checking account. She has checks for $103.42 and $146.43. She has cash consisting of 12 one-dollar bills, 10 five-dollar bills, 6 ten-dollar bills, and 20 twenty-dollar bills. What is Hamilton’s total deposit? a. $249.85 c. $522.00 b. $771.85 d. $411.85 9. Which of the following is the correct word form to write on a check for the amount $756.50? a. seven hundred fifty six and dollars b. seven hundred fifty-six and dollars c. seven hundred fifty-six and 0.50 dollars d. seven fifty-six and 0.50 dollars ____ 10. Which of the following is the correct word form to write on a check for the amount $27.00 a. twenty seven dollars b. twenty-seven dollars c. twenty seven and dollars d. twenty-seven and dollars ____ 11. The manager of Pia’s Taco Casa makes a deposit into the restaurant’s checking account at the end of the day. She has 2 fifty-dollar bills, 16 twenty-dollar bills, 4 ten-dollar bills, 1 five-dollar bill, 24 quarters, 12 dimes, and 3 nickels. She wants to receive 20 one-dollar bills to use as change the next day. How much is the total deposit? a. $472.35 c. $492.35 b. $452.35 d. $432.35 ____ 12. Latrina Ramin’s checking account had a balance of $148.52. One day she writes checks for $46.75 to purchase a blanket, $6.25 for a book, and $95.00 for a bedspread. What is the new balance in Ramin’s account? a. $0.52 c. $249.77 b. $52.00 d. $95.52 ____ 13. Latoya Johnson uses United Bank online banking. One month she paid the basic charge, 8 bills, and requested a printed statement. United’s online banking charges are shown below. What are Johnson’s total fees for the month? Service Basic Monthly Charge Bill Payment - first 4 N/C (no charge) Printed Statement Fee $5.50 $0.50 $3.50 a. $13.00 c. $9.50 b. $11.00 d. $9.00 ____ 14. Terrell DeShay’s statement balance is $432.10. He has one outstanding check for $37.00. What is DeShay’s adjusted balance? a. $395.10 c. $406.10 b. $469.10 d. $359.00 ____ 15. Tammy Martin’s checking account had a balance of $235.42. She writes one check for $36.75 to purchase a sweater and another for $6.75 to purchase a book. What is the new balance in Martin’s account? a. $278.92 c. $91.92 b. $198.67 d. $191.92 ____ 16. Eric Schneider’s bank statement shows a previous balance of $974.95. He made deposits of $246.00 and $98.48. He wrote checks for $721.00 and $35.35. He has a $3.00 service charge and earned $0.75 in interest. What is his present balance? a. $506.83 c. $560.08 b. $486.08 d. $560.83 ____ 17. Patrice Rodrick receives her bank statement for the month. Her balance is $430.52. In comparing her checkbook register, canceled checks, and bank statement, she finds that checks #224 and #250 are outstanding. The amounts are $32.50 and $62.80. What is Rodrick’s adjusted balance? a. $525.82 c. $463.02 b. $335.22 d. $493.32 ____ 18. Rosario Fuentes wants to purchase a ladder at Herm’s Hardware Store for $87.92. The previous balance in her checking account is $107.65. If she purchases the ladder with a check, what is the new balance? a. $19.73 c. $195.57 b. $87.92 d. $20.73 ____ 19. Paulo Suarez’s checking account balance is $212.02. He owes his friend Charlie Moore $37.00. He owes his mother $35.00 and his father $15.00. If Suarez writes checks to all three people, what is the new balance? a. $140.02 c. $125.02 b. $37.00 d. $120.02 ____ 20. The amounts on Clinton Updike’s bank statement are shown below. What is his present balance? Previous Balance Deposits Checks Service Charge Interest Present Balance $965.00 56.09 444.12 4.96 5.55 a. $576.97 c. $577.56 b. $572.01 d. $578.89 ____ 21. Chica Sanchez’s checking account had a balance of $678.22. She wrote a check to pay her gasoline charge card for $17.21 and a check to the grocery store for $172.71. What is her new balance? a. $661.01 c. $488.30 b. $478.30 d. $668.01 ____ 22. Martha Chung’s bank statement is shown below. Her previous balance was $132. What is her present balance? Checks and Other Charges Date Number Amount 2/17 222 $54.55 2/18 223 $132.44 2/22 224 $310.00 Service Charge $3.45 Deposits and Credits Date Amount 2/18 $359.00 2/20 $109.00 2/27 $60.00 Balance a. $162.99 c. $234.65 b. $156.59 d. $159.56 ____ 23. On April 17 Anita Morales had her rugs cleaned by Aero Rug Cleaners. The cost was $135. The previous balance in her checkbook register is $218. If Morales pays Aero Rug Cleaners with a check, what is the new balance? a. $135 c. $83 b. $383 d. $97 ____ 24. Shawnte Sholes purchased two light fixtures from Central Lighting for $31.83 each. What was the amount of his check, expressed in words? a. sixty-four and c. seventy-six and dollars dollars b. seventy-three and d. sixty-three and dollars dollars ____ 25. Julie Lonneman deposited her paycheck for $568.87 and a check from her father for $15.65. What was her total deposit? a. $564.85 c. $568.87 b. $584.52 d. $656.98 ____ 26. Briana Miller deposited a check for $543.00 and a check for $231.12. She received $60.00 in cash. What was her total deposit? a. $774.12 c. $432.01 b. $714.12 d. $775.62 ____ 27. Susan Pinsky’s checking account had a balance of $137.66. She wrote a check for $23.62 on September 3. On September 7 the bank made an automatic transfer (AT) of $25.41 to pay her phone bill. She made a deposit of $146.24 on September 12. What is the new balance in Pinsky’s account? a. $40.45 c. $234.87 b. $258.49 d. $332.93 ____ 28. The amounts on Lydia Morgan’s bank statement are shown below. What is her present balance? Previous Balance Deposits Checks Service Charge Interest Present Balance $ 96.00 50.09 140.12 1.96 3.55 a. $5.97 c. $6.78 b. $8.56 d. $7.56 ____ 29. Miguel Diaz deposited 16 one-dollar bills, 4 twenty-dollar bills, 13 quarters, 18 dimes, and 7 nickels in his checking account. What was his total deposit? a. $115.95 c. $101.40 b. $114.01 d. $101.05 ____ 30. Ramon Ramos receives his bank statement for the month. His balance is $470.99. In comparing his checkbook register, canceled checks, and bank statement, he finds that checks #786 and #789 are outstanding. The amounts are $52.50 and $65.00. What is Ramos’s adjusted balance? a. $343.69 c. $418.49 b. $358.49 d. $353.49 ____ 31. Clinton Zooks purchased two cans of paint from Pamela’s Paints for $21.99 each. What was the amount of his check, expressed in words? a. forty-three and c. forty-eight and dollars dollars b. twenty-one and dollars d. forty-three and ____ 32. What is the new balance on this online banking statement? Check Date Amount Number Description 01-Mar 724.00 Balance 01-Mar 6.95 Online Banking Fee 02-Mar 8.94 5174 03-Mar 29.00 5172 dollars 07-Mar 09-Mar 11-Mar 12-Mar 15-Mar 31-Mar 121.20 172.73 24.95 22.70 217.80 Debit Card, Pharmacy 5167 5170 5161 AT - Electric Power Balance a. $118.74 c. $119.73 b. $66.54 d. $276.48 ____ 33. According to the check register below, what is the total amount of purchases made by check? Date Amount Check Number Description 03/06/2002 $400.00 03/06/2002 2.00 03/10/2002 672.85 1287 CHECK Memo: Furniture Warehouse 03/12/2002 03/15/2002 12.50 0.50 1288 03/15/2002 3,341.29 03/15/2002 100.00 03/15/2002 30.55 03/15/2002 153.39 CHECK Memo: Salyer’s Drug Store Memo: BILL PAYMENT FEE CREDIT CARD PAYMENT TO 004:555-555 Online Payment FINDLAY YOUTH PAYMENT TO 009:W555 Online Payment CHECK Memo: Food Town AT WITHDRAWAL Memo: INSURANCE 031202 ATM Withdrawal ATM National Network Fee 1289 a. $617.50 c. $685.35 b. $715.90 d. $725.90 ____ 34. What is the total deposit on the deposit slip below? DOLLARS CHECKING DEPOSIT CASH Miller Sambrook Check’s Bank Number CHECKS Date _March 15, 20--___ CURRENCY COINS 42 00 0 87 639 152 25 42 95 47 SUBTOTAL LESS CASH RECEIVED TOTAL DEPOSIT Currency + Coins + Checks SIGN HERE IF CASH RECEIVED FROM DEPOSIT _______________________________ 75'''87652 a. $89.76 b. $113.76 CENTS c. $163.76 d. $155.76 50 00 ____ 35. Tomás Fuentes purchased four pillows for $8.50 each and a television stand for $27.00 from Housewares Etc. What was the amount of his check, expressed in words? a. sixty-one and c. sixty-nine and dollars dollars b. thirty-five and d. thirty-four and dollars dollars ____ 36. What is the total deposit on the deposit slip below? DOLLARS CHECKING DEPOSIT CASH CURRENCY Cedro Reverra COINS CHECKS Check’s Bank Number 1912 854 CENTS 670 00 0 34 44 87 86 47 Date _July 15, 20--___ SUBTOTAL Currency + Coins + Checks SIGN HERE IF CASH RECEIVED FROM DEPOSIT LESS CASH RECEIVED TOTAL DEPOSIT 100 00 ____________________________ 75'''87652 a. $601.68 c. $801.68 b. $701.68 d. $901.68 ____ 37. According to the check register below, what is the total amount of ATM fees? Date Amount Check Number Description 04/06/2002 $200.00 04/09/2002 $3.00 04/10/2002 $444.85 987 CHECK Memo: Dominic’s Catering 04/12/2002 04/15/2002 $22.80 $0.75 988 04/15/2002 $941.29 04/15/2002 04/15/2002 $90.00 $40.55 04/15/2002 $153.39 CHECK Memo: Dept. Store Memo: BILL PAYMENT FEE CREDIT CARD PYMT TO 004:555-555 Online Payment YOUTH PYMT TO 009:W555 Online Payment CHECK Memo: Kirby’s Groceries ATM WITHDRAWAL Memo: INSURANCE 031202 ATM Withdrawal ATM Out of Network Fee 989 a. $200.00 c. $3.00 b. $153.39 d. $0.75 ____ 38. Christopher Rinaldi receives his bank statement for the month. His balance is $1,770.99. In comparing his check register, canceled checks, and bank statement, he finds that two checks are outstanding. The amounts are $72.50 and $126.00. What is Rinaldi’s adjusted balance? a. $1,698.49 c. $1,770.99 b. $1,672.45 d. $1,572.49 ____ 39. Martina Carrillo’s check register had a previous balance of $137.00. She wrote a check for $39.62 on September 3. On September 7 the bank made an automatic transfer (AT) of $55.41 to pay her phone bill. She made a deposit of $46.24 on September 12. What is the new balance in Carrillo’s account? a. $68.70 c. $25.50 b. $88.21 d. $66.70 ____ 40. The previous balance in Calvin Harris’ check register was $978.22. He wrote a check to Murray’s Grocery for $77.21 and a check to The Photo Depot for $276.90. What is his new balance? a. $504.16 c. $624.55 b. $714.16 d. $624.11 ____ 41. What is the new balance on this online banking statement? Date 01-Mar 01-Mar 02-Mar 03-Mar 07-Mar 09-Mar 11-Mar 12-Mar 15-Mar 31-Mar Amount 1324.00 2.95 99.94 27.00 192.20 165.44 24.95 44.70 123.80 Check Number Description Balance Online Banking Fee 6374 6375 Debit Card, Department Store Purchase 6376 6377 6378 AT - Tech Power Balance a. $763.02 c. $673.02 b. $743.02 d. $643.02 ____ 42. Dedra Svensen’s bank statement shows a previous balance of $998.22. She makes a deposit of $246.20. She writes a check to Sam’s Grocery for $87.21 and a check to The Photo Shop for $76.90. What is her present balance? a. $834.11 c. $1,080.31 b. $734.21 d. $876.21 ____ 43. Irvin Raymond received a bank statement showing the following amounts. What is his present balance? Previous Balance Deposits Checks Service Charge Interest Present Balance $453.21 449.00 456.01 2.34 2.98 a. $446.84 c. $456.98 b. $453.98 d. $543.00 ____ 44. The previous balance in Dennis Jackson’s check register was $2,998.32. He wrote a check to Parker’s Deli for $7.21 and a check to The Computer Shop for $676.90. What is his new balance? a. $2,314.21 c. $1,854.44 b. $2,123.44 d. $1,924.44 ____ 45. Anna Levinson purchased three rolls of wallpaper at Pamela’s Paints for $22.50 each. What was the amount of her check, expressed in words? a. sixty-five and dollars c. forty-five and b. thirty-five and dollars d. sixty-seven and dollars dollars CHAPTER 4 TEST - Personal Finance Answer Section 10/2015 MULTIPLE CHOICE 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: C C C A B D C B B D B A B A D D B A C C C D C D B B C D C D A C B B A B C D B D D PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: Basic Basic Basic Average Basic Basic Average Basic Average Basic Average Average Basic Basic Basic Average Average Basic Average Average Basic Average Basic Basic Average Average Average Average Average Average Basic Average Average Average Average Average Average Average Average Average Average REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: Section 4-3 Section 4-1 Section 4-2 Section 4-1 Section 4-1 Section 4-4 Section 4-1 Section 4-1 Section 4-2 Section 4-2 Section 4-1 Section 4-3 Section 4-6 Section 4-5 Section 4-3 Section 4-4 Section 4-5 Section 4-3 Section 4-3 Section 4-4 Section 4-3 Section 4-4 Section 4-3 Section 4-2 Section 4-1 Section 4-1 Section 4-3 Section 4-4 Section 4-1 Section 4-5 Section 4-2 Section 4-6 Section 4-3 Section 4-1 Section 4-2 Section 4-1 Section 4-4 Section 4-5 Section 4-3 Section 4-3 Section 4-6 42. 43. 44. 45. ANS: ANS: ANS: ANS: C A A D PTS: PTS: PTS: PTS: 1 1 1 1 DIF: DIF: DIF: DIF: Average Basic Average Basic REF: REF: REF: REF: Section 4-4 Section 4-4 Section 4-3 Section 4-2