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Modules 105-107 Review Part 2
Test Description: Modules 105-107 Review Part 2
Instructions: Answer all questions to get your test result.
1) Which institution is owned by its account holders?
A
Payday loan store
B
Bank
C
Credit union
D
Commercial bank
2) Which institutions are insured by the FDIC?
A
Banks and credit unions
B
Credit unions and insurance companies
C
Savings and loan companies and banks
D
Insurance companies and banks
3) For how much are accounts insured by the NCUA?
A
$100,000
B
5,000
C
$250,000
D
$100
4) Which financial institutions issue commercial credit cards?
A
Payday loan stores
B
Commercial banks
C
Securities markets
D
Insuring agencies
5) What is the primary role of savings and loans companies?
A
Providing check-cashing services to consumers
B
Helping people secure home loans
C
Pairing investors with business owners
D
Paying for expensive new equipment
6) In what scenario do insurance companies make a profit?
A
When the stock market value is greater than the fees paid by consumers
B
When the interest paid on accounts is greater than the fees paid by consumers
C
When the insurance payouts are greater than the stock market value
D
When the fees paid by consumers are greater than insurance payouts
7) Securities firms focus most of their attention on
A
spending
B
borrowing
C
investing
D
saving
8) What is one disadvantage of getting money from a payday loan store?
A
You receive your money more slowly
B
A payday loan negatively affects your credit rating
C
Payday loan stores charge much higher fees than banks
D
You are limited in terms of the amount of money you can borrow
9) One _______ of not having a bank account is having to cash checks at a check-cashing store.
A
report
B
advantage
C
benefit
D
cost
10) When an employer transfers your pay to your bank account, it is called a(n)
A
automatic withdrawal
B
payday loan
C
fast cash
D
direct deposit
11) A(n) _______ earns interest over time.
A
savings account
B
payday loan
C
automatic withdrawal
D
direct deposit
12) When you take money out of your account, it is called a
A
payment
B
deposit
C
withdrawal
D
debit card
*select an answer for all questions
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