At Continental you use flows. The Captain (on the ground) or pilot flying (in the air) calls for the "checklist" ("before start", etc). Both pilots do their flows and then go to the checklist (pilot monitoring uses the checklist) for a reading of the challenge/response items. Some items are in the flow, but not on the checklist. The "terminating" checklist is the only read and do part.
Emergecy checklist are mainly read and do. There are some memory items for a few emergency checklists that you memorize and do, then go to the checklist.