A) mutual associations. B) mortgage lenders. C) available to the general public. D) special commercial lenders. E) not providers of insured deposits. A) mutual associations. B) mortgage lenders. C) available to the general public. D) special commercial lenders. E) not providers of insured deposits.

Exam 4: Managing Your Cash and Savings

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -Having some type of overdraft protection with your bank will end up costing [more | less] than having a check bounce.

(Essay)

4.9/5

(91)

Question 21

Savings and loan associations (S & Ls)channel the savings of depositors primarily into automotive loans.

(True/False)

4.8/5

(70)

Question 22

If your bank states that it compounds monthly,the effective interest rate (APY)will be greater than the nominal interest rate.

(True/False)

4.9/5

(88)

Question 23

Which of the following assets would be considered least liquid?

(Multiple Choice)

4.7/5

(75)

Question 24

Savings and loan associations usually offer non-interest bearing checking accounts.

(True/False)

4.7/5

(63)

Question 25

A(n)____ is not an interest-bearing account.

(Multiple Choice)

4.8/5

(85)

Question 26

A money market mutual fund is one way to participate indirectly in the purchase of money market securities.

(True/False)

4.9/5

(88)

Question 27

Connie Shockey wants to put funds in an account that does not offer checking privileges because she has a tendency to overspend.Which of the following would fit her criteria?

(Multiple Choice)

4.7/5

(70)

Question 28

Alice lost her ATM card at the lake and reported it missing the next day.She found that $800 had been withdrawn from her savings account.The most Alice will be legally liable for is

(Multiple Choice)

4.9/5

(74)

Question 29

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -You are buying a large amount of merchandise through the mail from a dealer several hundred miles from you with whom you have never dealt before.The dealer will probably require that you pay him with a cashiers or [travelers | certified] check.

(Essay)

4.7/5

(75)

Question 30

Factors typically influencing the choice of where to maintain a checking account are:

(Multiple Choice)

4.8/5

(89)

Question 31

A primary reason for holding liquid assets is to save for short-term goals.

(True/False)

4.8/5

(81)

Question 32

Stop-payment services are easier with electronic funds transfers that with traditional check payments.

(True/False)

4.7/5

(72)

Question 33

The stated interest rate on your account is 5%,interest compounded monthly.If you deposit $50 each month,how much will you have in your account in 5 years? (Use time value tables or financial calculator)

(Multiple Choice)

4.9/5

(87)

Question 34

Janice Sanders plans on saving $12,000 for 3 years until she returns to college for her master's degree in personal financial planning.She would like to receive a fixed rate of return over that period.Which of the following would you recommend?

(Multiple Choice)

4.9/5

(74)

Question 35

Credit unions are

(Multiple Choice)

4.7/5

(88)

Question 36

Your savings will grow faster with monthly interest compounding than with quarterly interest compounding.

(True/False)

4.8/5

(84)

Question 37

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -Credit unions are generally [small | large] institutions when compared with commercial banks and savings and loans.

(Essay)

4.9/5

(92)

Question 38

Alice lost her ATM card at the lake and forgot it was missing until her monthly statement came 26 days later.She found that $800 had been withdrawn from her savings account.The most Alice will be legally liable for assuming she notifies the bank at this point is

(Multiple Choice)

4.9/5

(73)

Question 39

A certified check is a personal check that the bank guarantees the funds are available.

(True/False)

4.8/5

(78)

Question 40

Showing 21 - 40 of 193

Savings and loan associations (S & Ls)channel the savings of depositors primarily into automotive loans.

If your bank states that it compounds monthly,the effective interest rate (APY)will be greater than the nominal interest rate.

Which of the following assets would be considered least liquid?

Savings and loan associations usually offer non-interest bearing checking accounts.

A(n)____ is not an interest-bearing account.

A money market mutual fund is one way to participate indirectly in the purchase of money market securities.

Connie Shockey wants to put funds in an account that does not offer checking privileges because she has a tendency to overspend.Which of the following would fit her criteria?

Alice lost her ATM card at the lake and reported it missing the next day.She found that $800 had been withdrawn from her savings account.The most Alice will be legally liable for is

Factors typically influencing the choice of where to maintain a checking account are:

A primary reason for holding liquid assets is to save for short-term goals.

Stop-payment services are easier with electronic funds transfers that with traditional check payments.

The stated interest rate on your account is 5%,interest compounded monthly.If you deposit $50 each month,how much will you have in your account in 5 years? (Use time value tables or financial calculator)

Janice Sanders plans on saving $12,000 for 3 years until she returns to college for her master's degree in personal financial planning.She would like to receive a fixed rate of return over that period.Which of the following would you recommend?

Credit unions are

Your savings will grow faster with monthly interest compounding than with quarterly interest compounding.

Alice lost her ATM card at the lake and forgot it was missing until her monthly statement came 26 days later.She found that $800 had been withdrawn from her savings account.The most Alice will be legally liable for assuming she notifies the bank at this point is

A certified check is a personal check that the bank guarantees the funds are available.

Understanding the Financial Planning Process

Your Financial Statements and Plans

Preparing Your Taxes

Making Automobile and Housing Decisions

Using Credit

Using Consumer Loans

Insuring Your Life

Insuring Your Health

Protecting Your Property

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds

Planning for Retirement

Preserving Your Estate

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