Exam 4: Managing Your Cash and Savings

Joe Gustafson is a very busy person who prefers to use one account to handle all his financial services needs like checking,investing,and borrowing.Which of the following types of accounts is most suitable for Joe?

____________ offer banking services but do not accept deposits like traditional banks. ​

You have $450 in your checking account when your ATM card and PIN are stolen.You could lose up to _____ if you notify your bank about the lost ATM card within 2-8 business days.

The financial crisis of 2008-2009 followed by low interest rates have been beneficial to ____________. ​

Christina's bank allows her employer to directly deposit her paycheck into her personal bank account.This service provided by Christina's bank is called a(n):

____________ is the routine,day-to-day administration of liquid assets by an individual or family. ​

You have $900 in your checking account when your ATM card and PIN are stolen.You could lose up to _____ if you notify your bank about the lost ATM card after 60 business days after your periodic statement is mailed.

It costs financial institutions more if their customers perform ____________. ​

Funds in commercial banks are protected by the:

Which of the following is true of low interest rates?

You can hold an account with a mutual fund that allows you to write a limited number of checks.

Your checkbook balance shows $706.50.The bank statement shows $772.77.The bank paid $2.50 interest.Checks 1501 ($85),1507 ($50.16),1511 ($20.50)are not shown on the statement.A service charge of $5 was levied by the bank.You made an $85 deposit yesterday that is not on the statement.What is the reconciled balance? (Show all work.)

Which of the following is true of safe-deposit boxes offered by banks?

Alice lost her ATM card and reported it missing the next day.She found that $800 had been withdrawn from her savings account.Alice's loss is equal to:

A(n)_____ is a noninterest-paying demand deposit account.

The minimum denomination of T-bills is:

A safe-deposit box in a bank can be opened:

Compound interest means that a savings account earns interest on the interest previously earned.

Visa and MasterCard issue debit cards linked to your checking account.

Cash is the only kind of liquid asset.