Check Clearing: Definition, Process & Rules

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is check clearing?

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1. On Monday, Sue deposited a $100 check that she received as a birthday gift from her father. Later that day, Sue made a purchase at a shoe store with a personal check. She is hoping that the $100 check that she deposited into her account clears before the one that she wrote does. If the check that Sue wrote is also deposited on Monday, why might Sue have a problem with her account?

2. Which of the following BEST describes how check clearing might affect the depositor who wrote the check?

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About This Quiz & Worksheet

This worksheet and quiz are designed to help you review the check clearing process. Use the worksheet and then complete the quiz to see what knowledge you acquired.

Quiz & Worksheet Goals

Use this quiz and worksheet to examine the following topics:

  • What check clearing is
  • An example of check clearing
  • The available balance
  • How check clearing affects the depositor who wrote the check

Skills Practiced

  • Information recall - access the knowledge you have gained regarding what check clearing is
  • Knowledge application - use your knowledge to answer questions about an example of check clearing
  • Reading comprehension - ensure that you draw the most important details from the related lesson on the check clearing process

Additional Learning

The check clearing process is important to know, and you can go over more information about this process by using the lesson called Check Clearing: Definition, Process & Rules. You can use this lesson to help you:

  • Determine what an available balance is
  • Examine the roles of a clearing house
  • Understand why the check clearing process is important
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