Exam 4: Financial Services: Saving Plans and Payment Accounts

Will wants to open an account with $500 that will allow him easy access to his funds (by checks, ATMs, or debit card usage) from many locations. He also wants to earn at least a low interest rate and have federal deposit insurance. What kind of account should he open?

When Flo says she's "going to the bank," she may be implying that she is visiting a credit union or stopping at an ATM.

ATM stands for

Financial service activities through your smartphone or tablet include text banking, mobile web banking, and banking apps.

Investments, insurance, and tax assistance are tools for financial planning and are also known as

When Imogene brought a necklace to a _______, she received a loan based on its value.

Liquidity and rate of return refer to the same thing.

What is the APY for a savings account with a $250 balance that receives $9 interest for the year?

A legal agreement that provides for the management and control of assets by one party for the benefit of another is known as

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

Louise got caught in a cash flow trap and desperately needed money quickly. Unfortunately, she didn't shop around and she went to a _____. As a result, her annual percentage rate was higher than 780%!

Which of the following is NOT a financial publication that can provide information about financial services and economic conditions?

If you rent a big-screen television from a rent-to-own center for a week, you will be certain to own it at the end of the first week.

The only question you should ask yourself when selecting a financial service provider is "Where can I get the best return on my savings?"

All of the following are non-deposit institutions except

Chloe signed the back of her check with just her signature. She used a(n)

All of the following are deposit institutions except

Each year, check writing is being used more often.

Which of the following usually offers money market funds?

If you want to buy U.S. savings bonds, you may purchase them through