Banks And Credit: Question Preview (ID: 15873)

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The total amount of money outstanding on a loan.
a) Principal b) Simple interest c) Time value of money d) Usury
The ease with which an asset can be converted into cash
a) Face value b) Liquidity c) FDIC d) Balancing your records with the banks records
FDIC protects depositor's money in case of the failure of a bank; up to ______
a) $200,000 b) $150,000 c) $75,000 d) $250,000.00
US Treasury Department must notify be to track large deposits, the federal government requires that deposits of ______or more.
a) $75,000 b) $10,000 c) $15,000 d) $32,000
Interest earned only on the original amount or principal.
a) Simple interest b) Compound interest c) Principal d) Time value of money
How long does it take checks to clear
a) 3-7 business days b) 1 business day c) 7-10 business days d) ASAP
Roth Individual Retirement Account (IRA) can be withdrawn _______
a) 401K b) tax and penalty free c) Retiremnt d) Matching Income
retirement plan when employers often match a portion of every dollar you invest
a) A long-term, fixed rate certificate of deposit b) CD c) 401K d) Stocks
If you think interest rates will fall in the future, you should invest in long-term Fixed rate
a) IRA b) Mutual Funds c) Stocks d) CD
A credit card account is an________ because it does not require collateral.
a) unsecured loan b) 401K c) secured loan d) Credit Limit
Interest calculated on both the principal and the accrued interest.
a) Compound interest b) 60 Days c) Time value of money d) Simple Interest
security given for loan, assets to secure the debt
a) Capacity b) Character c) Collateral d) CD
Traditional IRA can be withdrawn __________
a) but you must pay penalties and taxes b) captial c) Tax free d) anytime
If you have been denied credit,You are entitled to receive a free copy of that credit report within how many days
a) 60 days b) A week c) 1 day d) 1 year
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