Modules 105-107 Review Part 2 Question Preview (ID: 33849)
Modules 105-107 Review Part 2.
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Which institution is owned by its account holders?
a) Bank
b) Commercial bank
c) Credit union
d) Payday loan store
Which institutions are insured by the FDIC?
a) Banks and credit unions
b) Savings and loan companies and banks
c) Insurance companies and banks
d) Credit unions and insurance companies
For how much are accounts insured by the NCUA?
a) $100
b) 5,000
c) $100,000
d) $250,000
Which financial institutions issue commercial credit cards?
a) Commercial banks
b) Payday loan stores
c) Insuring agencies
d) Securities markets
What is the primary role of savings and loans companies?
a) Providing check-cashing services to consumers
b) Pairing investors with business owners
c) Paying for expensive new equipment
d) Helping people secure home loans
In what scenario do insurance companies make a profit?
a) When the insurance payouts are greater than the stock market value
b) When the fees paid by consumers are greater than insurance payouts
c) When the stock market value is greater than the fees paid by consumers
d) When the interest paid on accounts is greater than the fees paid by consumers
Securities firms focus most of their attention on
a) borrowing
b) investing
c) saving
d) spending
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
One _______ of not having a bank account is having to cash checks at a check-cashing store.
a) advantage
b) benefit
c) cost
d) report
When an employer transfers your pay to your bank account, it is called a(n)
a) automatic withdrawal
b) direct deposit
c) fast cash
d) payday loan
A(n) _______ earns interest over time.
a) automatic withdrawal
b) direct deposit
c) payday loan
d) savings account
When you take money out of your account, it is called a
a) deposit
b) debit card
c) payment
d) withdrawal
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