Question 1

FDIC covers stocks,bonds,and mutual funds purchased at banks.

Accepted Answer

A) True 
 B)False

Question 2

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.
-Dottie and Jasper have a joint checking account with rights of survivorship.If Jasper dies,his portion of the account [will | will not] automatically go to Dottie.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 3

Which of the following is not a strategy to being building your nest egg:

Accepted Answer

A)  make savings a priority 
B)  reinvest interest and dividends 
C)  splurge once in a while 
D)  set up a retirement plan 
E)  all the above are strategies. 
A)  make savings a priority 
B)  reinvest interest and dividends 
C)  splurge once in a while 
D)  set up a retirement plan 
E)  all the above are strategies.

Question 4

The rate of return on a Series EE savings bond changes semiannually.

Accepted Answer

A) True 
 B)False

Question 5

If Suzie has $2,000 in checking,$50,000 in a money market account,and $75,000 in certificates of deposit (all individual accounts)at her local bank,her accounts would be completely insured through FDIC.

Accepted Answer

A) True 
 B)False

Question 6

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.
-Many people choose a bank solely on [services | convenience].

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 7

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.
-Your bank probably [will | will not] levy a transaction fee if you use a "foreign" ATM to make a withdrawal.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 8

You have $450 in your checking account when your ATM card and PIN are stolen.You could lose up to ____ if you report the lost ATM card within 2 business days.

Accepted Answer

A)  $ 0 
B)  $ 25 
C)  $ 50 
D)  $450 
E)  $500 
A)  $ 0 
B)  $ 25 
C)  $ 50 
D)  $450 
E)  $500

Question 9

As of 2009,the FDIC insures depositor's funds up to $250,000 at member banks.

Accepted Answer

A) True 
 B)False

Question 10

Money market mutual funds are insured up to $250,000 by the FDIC if purchased at an insured bank.

Accepted Answer

A) True 
 B)False

Question 11

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.
-A bank customer would typically expect to receive higher interest rates on her [certificate of deposit | money market deposit account].

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 12

Internet-only banks typically pay lower interest rates on savings than traditional banks.

Accepted Answer

A) True 
 B)False

Question 13

Treasury bills are sold at their face value.

Accepted Answer

A) True 
 B)False

Question 14

Vicki Vasquez owns a six-month treasury bill that is four months from maturity.She recently encountered medical problems and needs the money now.She

Accepted Answer

A)  can request in writing for the treasury to pay her early. 
B)  can sell the T-bill in the open market. 
C)  will have to wait until the maturity date to get your money. 
D)  can call a toll-free number to request the money. 
E)  can go to the bank and withdraw the funds needed. 
A)  can request in writing for the treasury to pay her early. 
B)  can sell the T-bill in the open market. 
C)  will have to wait until the maturity date to get your money. 
D)  can call a toll-free number to request the money. 
E)  can go to the bank and withdraw the funds needed.

Question 15

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.
-[All | Some] banks must return cancelled checks with the monthly statement although most are abandoning this practice.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 16

When doing a DDA reconciliation,interest earned on your account should be

Accepted Answer

A)  deducted from your checkbook ledger. 
B)  added to your checkbook ledger. 
C)  ignored because the bank has already recorded it. 
D)  listed as outstanding. 
E)  compared to your interest calculations. 
A)  deducted from your checkbook ledger. 
B)  added to your checkbook ledger. 
C)  ignored because the bank has already recorded it. 
D)  listed as outstanding. 
E)  compared to your interest calculations.

Question 17

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.
-[Money market deposit accounts | money market mutual funds] are protected by the Federal Deposit Insurance Corporation.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 18

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.
-A [checking | savings] account is called a demand account.

Accepted Answer

The answer of INSTRUCTIONS: Choose the word or phrase in...

Question 19

The stated interest rate on your account is 3.5%,interest compounded monthly.If you deposit $100 each month,how much will you have in your account in 8 years? (Use time value tables or financial calculator)

Accepted Answer

A)  $ 9,600 
B)  $ 9,936 
C)  $11,060 
D)  $12,288 
E)  $12,350 
A)  $ 9,600 
B)  $ 9,936 
C)  $11,060 
D)  $12,288 
E)  $12,350

Question 20

The main business of an S&L is to provide home mortgage and home improvement loans.

Accepted Answer

A) True 
 B)False

FDIC covers stocks,bonds,and mutual funds purchased at banks.

Which of the following is not a strategy to being building your nest egg:

The rate of return on a Series EE savings bond changes semiannually.

If Suzie has $2,000 in checking,$50,000 in a money market account,and $75,000 in certificates of deposit (all individual accounts)at her local bank,her accounts would be completely insured through FDIC.

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. -Many people choose a bank solely on [services | convenience].

You have $450 in your checking account when your ATM card and PIN are stolen.You could lose up to ____ if you report the lost ATM card within 2 business days.

As of 2009,the FDIC insures depositor's funds up to $250,000 at member banks.

Money market mutual funds are insured up to $250,000 by the FDIC if purchased at an insured bank.

Internet-only banks typically pay lower interest rates on savings than traditional banks.

Treasury bills are sold at their face value.

Vicki Vasquez owns a six-month treasury bill that is four months from maturity.She recently encountered medical problems and needs the money now.She

When doing a DDA reconciliation,interest earned on your account should be

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. -A [checking | savings] account is called a demand account.

The stated interest rate on your account is 3.5%,interest compounded monthly.If you deposit $100 each month,how much will you have in your account in 8 years? (Use time value tables or financial calculator)

The main business of an S&L is to provide home mortgage and home improvement loans.

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

Filters

Exam 4: Managing Your Cash and Savings

FDIC covers stocks,bonds,and mutual funds purchased at banks.

Which of the following is not a strategy to being building your nest egg:

The rate of return on a Series EE savings bond changes semiannually.

If Suzie has $2,000 in checking,$50,000 in a money market account,and $75,000 in certificates of deposit (all individual accounts)at her local bank,her accounts would be completely insured through FDIC.

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. -Many people choose a bank solely on [services | convenience].

You have $450 in your checking account when your ATM card and PIN are stolen.You could lose up to ____ if you report the lost ATM card within 2 business days.

As of 2009,the FDIC insures depositor's funds up to $250,000 at member banks.

Money market mutual funds are insured up to $250,000 by the FDIC if purchased at an insured bank.

Internet-only banks typically pay lower interest rates on savings than traditional banks.

Treasury bills are sold at their face value.

Vicki Vasquez owns a six-month treasury bill that is four months from maturity.She recently encountered medical problems and needs the money now.She

When doing a DDA reconciliation,interest earned on your account should be

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. -A [checking | savings] account is called a demand account.

The stated interest rate on your account is 3.5%,interest compounded monthly.If you deposit $100 each month,how much will you have in your account in 8 years? (Use time value tables or financial calculator)

The main business of an S&L is to provide home mortgage and home improvement loans.

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

Filters