Exam 4: Financial Services: Saving Plans and Payment Accounts

Two years ago, Sean deposited money into a savings account and received a toaster as a free gift, which required him to leave his money on deposit for a year. The value of the toaster reduced the amount of interest he earned for the first year.

A callable CD allows investors to "cash in" their investment early.

Brenda lost her debit card. When she realized it was gone, her account had $173 in unauthorized charges. She notified her financial institution within two days. How much is she potentially liable for?

Which of the following is NOT required when writing a check?

Which of the following is a type of electronic payment?

Evan had three accounts as listed below. In 2014, how much was his total insurance coverage by the FDIC? • Bank A: $150,000 • Bank B: $50,000 • Bank C: $350,000

Anders went to Norway and went shopping. He had to sign his name once when he purchased this document and a second time at the store. Anders used a

What is the APY for a one-year $4,000 certificate of deposit with $280 interest?

The best option for borrowing money at a low rate is to use a payday loan organization.

Lydia found a check that she was given for her birthday nine months earlier. Her bank should refuse to cash the check.

Which of the following offers a full range of financial services including checking, savings, lending, and other services?

A drawback of a regular savings account is

Nora bought a used car and was told that she needed a personal check with guaranteed payment. She obtained a

Logan paid a bill with a special form. He received this form at his financial institution and had to pay the amount of the check plus a fee. He used a