Question 1

Which type of organization does not provide home mortgages?

Accepted Answer

A) federal credit unions 
B) savings and loan associations 
C) employee credit unions 
D) mutual savings banks 
E) payroll check cashing services 
A) federal credit unions 
B) savings and loan associations 
C) employee credit unions 
D) mutual savings banks 
E) payroll check cashing services

Question 2

The Truth-in-Savings law requires that financial institutions:

Accepted Answer

A) provide insurance for savings accounts. 
B) send customers monthly bank statements. 
C) report annual percentage yield on savings. 
D) offer adjustable rate savings accounts. 
E) become members of the Federal Reserve System. 
A) provide insurance for savings accounts. 
B) send customers monthly bank statements. 
C) report annual percentage yield on savings. 
D) offer adjustable rate savings accounts. 
E) become members of the Federal Reserve System.

Question 3

A savings account at a credit union is called a ____________ account.

Accepted Answer

A) share 
B) NOW 
C) club 
D) certificate 
E) money market 
A) share 
B) NOW 
C) club 
D) certificate 
E) money market

Question 4

Which of the following is an effective strategy in times of falling interest rates?

Accepted Answer

A) Use long-term loans to take advantage of current low rates. 
B) Use short-term loans to take advantage of lower rates when you refinance the loans. 
C) Select short-term savings instruments to take advantage of higher rates when they mature. 
D) Select short-term savings instruments to lock-in earnings at current high rates. 
E) Select long-term savings instruments to lock-in earnings at current low rates. 
A) Use long-term loans to take advantage of current low rates. 
B) Use short-term loans to take advantage of lower rates when you refinance the loans. 
C) Select short-term savings instruments to take advantage of higher rates when they mature. 
D) Select short-term savings instruments to lock-in earnings at current high rates. 
E) Select long-term savings instruments to lock-in earnings at current low rates.

Question 5

What is the rate that the Federal Reserve charges banks for loans called?

Accepted Answer

A) prime 
B) discount 
C) mortgage 
D) treasury bond 
E) corporate bond 
A) prime 
B) discount 
C) mortgage 
D) treasury bond 
E) corporate bond

Question 6

Neil Guest writes a check to pay for day care for his son.What type of financial service is Neil using?

Accepted Answer

A) payment service 
B) savings service 
C) borrowing service 
D) trust services 
E) asset management 
A) payment service 
B) savings service 
C) borrowing service 
D) trust services 
E) asset management

Question 7

What is the rate an individual will pay for borrowing to purchase a new home called?

Accepted Answer

A) prime 
B) discount 
C) mortgage 
D) treasury bond 
E) corporate bond 
A) prime 
B) discount 
C) mortgage 
D) treasury bond 
E) corporate bond

Question 8

Which law requires banks and other financial institutions to disclose fees,the annual percentage yield,and the other terms and conditions on checking and savings accounts?

Accepted Answer

A) Truth in Savings Law 
B) Truth in Lending Law 
C) Expedited Funds Availability Act 
D) Equal Employment Opportunity Act 
E) Identity Theft Protection Act 
A) Truth in Savings Law 
B) Truth in Lending Law 
C) Expedited Funds Availability Act 
D) Equal Employment Opportunity Act 
E) Identity Theft Protection Act

Question 9

Which CD attempts to attract savers with gifts or special rates?

Accepted Answer

A) bump-up 
B) indexed 
C) callable 
D) global 
E) promotional 
A) bump-up 
B) indexed 
C) callable 
D) global 
E) promotional

Which type of organization does not provide home mortgages?

The Truth-in-Savings law requires that financial institutions:

A savings account at a credit union is called a ____________ account.

Which of the following is an effective strategy in times of falling interest rates?

What is the rate that the Federal Reserve charges banks for loans called?

Neil Guest writes a check to pay for day care for his son.What type of financial service is Neil using?

What is the rate an individual will pay for borrowing to purchase a new home called?

Which law requires banks and other financial institutions to disclose fees,the annual percentage yield,and the other terms and conditions on checking and savings accounts?

Which CD attempts to attract savers with gifts or special rates?

Personal Finance Basics and the Time Value of Money

Financial Aspects of Career Planning

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

Introduction to Consumer Credit

Choosing a Source of Credit: The Costs of Credit Alternatives

Consumer Purchasing Strategies and Legal Protection

The Housing Decision: Factors and Finances

Property and Motor Vehicle Insurance

Health, Disability, and Long-Term Care Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Investing in Real Estate and Other Investment Alternatives

Starting Early: Retirement Planning

Estate Planning

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Exam 5: Financial Services: Savings Plans and Payment Accounts

Which type of organization does not provide home mortgages?

The Truth-in-Savings law requires that financial institutions:

A savings account at a credit union is called a ____________ account.

Which of the following is an effective strategy in times of falling interest rates?

What is the rate that the Federal Reserve charges banks for loans called?

Neil Guest writes a check to pay for day care for his son.What type of financial service is Neil using?

What is the rate an individual will pay for borrowing to purchase a new home called?

Which law requires banks and other financial institutions to disclose fees,the annual percentage yield,and the other terms and conditions on checking and savings accounts?

Which CD attempts to attract savers with gifts or special rates?

Personal Finance Basics and the Time Value of Money

Financial Aspects of Career Planning

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

Introduction to Consumer Credit

Choosing a Source of Credit: The Costs of Credit Alternatives

Consumer Purchasing Strategies and Legal Protection

The Housing Decision: Factors and Finances

Property and Motor Vehicle Insurance

Health, Disability, and Long-Term Care Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Investing in Real Estate and Other Investment Alternatives

Starting Early: Retirement Planning

Estate Planning

Filters