Banks And Credit

Test Description: Review

Instructions: Answer all questions to get your test result.

1) The total amount of money outstanding on a loan.

2) The ease with which an asset can be converted into cash

3) FDIC protects depositor's money in case of the failure of a bank; up to ______

4) US Treasury Department must notify be to track large deposits, the federal government requires that deposits of ______or more.

5) Interest earned only on the original amount or principal.

6) How long does it take checks to clear

7) Roth Individual Retirement Account (IRA) can be withdrawn _______

8) retirement plan when employers often match a portion of every dollar you invest

9) If you think interest rates will fall in the future, you should invest in long-term Fixed rate

10) A credit card account is an________ because it does not require collateral.

11) Interest calculated on both the principal and the accrued interest.

12) security given for loan, assets to secure the debt

13) Traditional IRA can be withdrawn __________

14) If you have been denied credit,You are entitled to receive a free copy of that credit report within how many days


*select an answer for all questions

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