A) Automatic taking machine. B) Available teller machine. C) Automatic teller machine. D) Available token machine. E) Automatic token machine. A) Automatic taking machine. B) Available teller machine. C) Automatic teller machine. D) Available token machine. E) Automatic token machine.

Exam 4: Financial Services: Savings Plans and Payment Account

What is the opportunity cost of a checking account that requires a $300 minimum balance to avoid service charges? Assume an interest rate of 6%.

Free

(Essay)

4.9/5

(80)

Question 1

Correct Answer:

Verified

The opportunity cost is the interest that could be earned on the minimum balance = $300 × 6% = $18.

The insurance coverage provided by the FDIC for a savings account is ________ per depositor until January 1,2014.

Free

(Multiple Choice)

4.7/5

(72)

Question 2

Correct Answer:

Verified

A college ID that includes prepaid amounts for meals is called a debit card.

Free

(True/False)

4.8/5

(62)

Question 3

Correct Answer:

Verified

False

Which of the following will likely provide the most expensive access to funds?

(Multiple Choice)

4.8/5

(71)

Question 4

When Ted needs cash,his choices include liquidating savings and borrowing.

(True/False)

4.9/5

(79)

Question 5

Gwen had three accounts as listed here.In 2011,how much was her total coverage by the FDIC? • Bank A: $250,000 • Bank B: $50,000 • Bank C: $275,000

(Multiple Choice)

4.8/5

(94)

Question 6

A drawback of a savings account is

(Multiple Choice)

4.9/5

(70)

Question 7

Reconciling a checking account is not really necessary since the bank statement includes all activity from the bank's perspective.

(True/False)

4.9/5

(71)

Question 8

When you select a financial services provider,you should ask all of the following questions except

(Multiple Choice)

4.8/5

(81)

Question 9

Jennifer received a $50 gift card for her favorite retailer.What kind of card did she receive?

(Multiple Choice)

4.8/5

(77)

Question 10

An all-in-one account that provides a complete financial services program for a single fee is known as

(Multiple Choice)

4.7/5

(79)

Question 11

Zoe signed the back of her check with the words "for deposit only." She used a(n)

(Multiple Choice)

4.8/5

(97)

Question 12

Earnings on savings can be measured by the

(Multiple Choice)

4.9/5

(72)

Question 13

Louise got caught in a cash flow trap and needed money quickly.Unfortunately,she didn't shop around and she went to a _____.As a result,her annual percentage rate was higher than 375%!

(Multiple Choice)

4.8/5

(88)

Question 14

When you select a financial services provider,you may find all of the following to be major factors except

(Multiple Choice)

4.8/5

(95)

Question 15

Harvey needed some cash quickly,so he received a short-term loan based on the value of an old ring.Where did he go?

(Multiple Choice)

4.8/5

(76)

Question 16

ATM stands for

(Multiple Choice)

4.9/5

(86)

Question 17

Will wants to open an account that will allow him easy access to his funds (by checks,ATMs,or debit card usage)from many locations and will pay at least a low interest rate.What kind of account should he open?

(Multiple Choice)

5.0/5

(67)

Question 18

Which is a better source of cash-a credit union or a check cashing outlet? Why?

(Essay)

4.8/5

(77)

Question 19

Wanda bought a certificate of deposit and automatically received a free bike.She purchased a

(Multiple Choice)

4.8/5

(78)

Question 20

Showing 1 - 20 of 131

What is the opportunity cost of a checking account that requires a $300 minimum balance to avoid service charges? Assume an interest rate of 6%.

The insurance coverage provided by the FDIC for a savings account is ________ per depositor until January 1,2014.

A college ID that includes prepaid amounts for meals is called a debit card.

Which of the following will likely provide the most expensive access to funds?

When Ted needs cash,his choices include liquidating savings and borrowing.

Gwen had three accounts as listed here.In 2011,how much was her total coverage by the FDIC? • Bank A: $250,000 • Bank B: $50,000 • Bank C: $275,000

A drawback of a savings account is

Reconciling a checking account is not really necessary since the bank statement includes all activity from the bank's perspective.

When you select a financial services provider,you should ask all of the following questions except

Jennifer received a $50 gift card for her favorite retailer.What kind of card did she receive?

An all-in-one account that provides a complete financial services program for a single fee is known as

Zoe signed the back of her check with the words "for deposit only." She used a(n)

Earnings on savings can be measured by the

Louise got caught in a cash flow trap and needed money quickly.Unfortunately,she didn't shop around and she went to a _____.As a result,her annual percentage rate was higher than 375%!

When you select a financial services provider,you may find all of the following to be major factors except

Harvey needed some cash quickly,so he received a short-term loan based on the value of an old ring.Where did he go?

ATM stands for

Will wants to open an account that will allow him easy access to his funds (by checks,ATMs,or debit card usage)from many locations and will pay at least a low interest rate.What kind of account should he open?

Which is a better source of cash-a credit union or a check cashing outlet? Why?

Wanda bought a certificate of deposit and automatically received a free bike.She purchased a

Personal Financial Planning in Action

Money Management Skills

Taxes in Your Financial Plan

Consumer Credit: Advantages, Dis-Advantages, Sources, and Costs

Consumer Purchasing Strategies and Wise Buying of Motor Vehicles

Selecting and Financing Housing

Home and Automobile Insurance

Health and Disability Income Insurance

Financial Planning With Life Insurance

Investing Basics and Evaluating Bonds

Investing in Stocks

Investing in Mutual Funds

Starting Early: Retirement and Estate Planning

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