Ch 4: Personal Checking & Savings Accounts

About This Chapter

Examine how bank accounts work and the role they play in how we manage money by checking out the Personal Checking & Savings Accounts chapter of this study guide. These lessons will help you both now and after you graduate.

Personal Checking & Savings Accounts - Chapter Summary and Learning Objectives

Where we keep our money and how we keep track of it exerts an incredibly powerful influence over how we live, what we can and cannot afford to do, and what happens to us as we age and our earning potential declines. In these lessons you will examine the types of savings and checking accounts that banks offer, their functions and purpose, their history and background and much more. When you have completed this chapter, you will be able to:

  • Discuss what a checking account is and how it functions
  • Balance a checking and savings account correctly
  • Differentiate between a savings and checking account
  • Explain the importance of a savings account and the types available
  • Understand what is meant by check clearing

Course Topics

LessonObjective
What is a Checking Account? - Definition, Types & Advantages Define and describe a checking account.
What is a Savings Account? - Definition, Types & Quiz Discover purpose and types of savings accounts.
How to Balance a Checking or Savings Account Learn procedures for balancing savings and checking accounts.
Check Clearing: Definition, Process & Rules Explain the procedures involved when a check clears.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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