Banking Investment 1 Question Preview (ID: 62823)


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Federal Reserve
a) for banks and the U.S. government. Provides payment services for banks
b) For consumers and businesses
c) A financial institution for members (not open to general public) with a common bond (e.g., they work at the same place)
d) Insures credit unions

Commercial Bank
a) For consumers and businesses
b) A financial institution for members (not open to general public) with a common bond (e.g., they work at the same place)
c) Insures credit unions
d) Large, institutional clients

Credit Union
a) A financial institution for members (not open to general public) with a common bond (e.g., they work at the same place)
b) Insures credit unions
c) for banks and the U.S. government. Provides payment services for banks
d) For consumers and businesses

NCUA
a) Insures credit unions
b) Large, institutional clients
c) Most common form of demand deposit (money available on demand)
d) Designed to help save money

Investment Banks
a) Large, institutional clients
b) Designed to help save money
c) Most common form of demand deposit (money available on demand)
d) Deposit locked in for a specific amount of time and interest rate

Checking Account
a) Most common form of demand deposit (money available on demand)
b) Designed to help save money
c) Deposit locked in for a specific amount of time and interest rate
d) Insures credit unions

CD
a) Deposit locked in for a specific amount of time and interest rate
b) Offers variable interest rates
c) Large, institutional clients
d) Large, institutional clients

Money Market
a) Offers variable interest rates
b) Loan for housing
c) Store important physical items in the vault
d) Large, institutional clients

Mortgage
a) Loan for housing
b) Access cash and make deposits without having to go inside the bank or go during banking hours
c) AKA insurance
d) FHA, ECOA, CRA

Savings Account
a) Designed to help save money
b) Offers variable interest rates
c) Deposit locked in for a specific amount of time and interest rate
d) Access cash and make deposits without having to go inside the bank or go during banking hours

Safe Deposit Box
a) Store important physical items in the vault
b) Access cash and make deposits without having to go inside the bank or go during banking hours
c) Scandal that precipitated the passing of SOX Act
d)

ATMs
a) Access cash and make deposits without having to go inside the bank or go during banking hours
b) Loan for housing
c) Scandal that precipitated the passing of SOX Act
d)

Non-Bank Financial Institution
a) Does not have a banking license, Doesn't accept deposits from the public, Facilitates financial services
b) FHA, ECOA, CRA
c) Scandal that precipitated the passing of SOX Act
d)

Risk pooling
a) AKA insurance
b) FHA, ECOA, CRA
c) Scandal that precipitated the passing of SOX Act
d)

Regulations to prevent discrimination in banking
a) FHA, ECOA, CRA
b) Started in the 1780s
c) Does not have a banking license, Doesn't accept deposits from the public, Facilitates financial services
d)

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