Question 1

EFTS allow you to make payments that occur on a regular basis.

Accepted Answer

A) True 
 B)False

Question 2

Alice lost her EFTS card at the park and forgot to report it until her monthly statement came 26 days later.She found that $600 had been withdrawn from her bank account.Assuming she notifies the bank at this point,the most for which Alice will be legally liable is

Accepted Answer

A) $0. 
B) $25. 
C) $50. 
D) $500. 
E) $600. 
A) $0. 
B) $25. 
C) $50. 
D) $500. 
E) $600.

Question 3

Harry just received $2,000 for graduation.He plans on investing this money for five years at 8% compounded annually.If he accomplishes this,Harry will have in an ending balance of (Use time value tables or financial calculator)

Accepted Answer

A) $2,160. 
B) $2,520. 
C) $2,608. 
D) $2,938. 
E) $3162. 
A) $2,160. 
B) $2,520. 
C) $2,608. 
D) $2,938. 
E) $3162.

Question 4

Kyle lost his EFTS card at the lake and reported it missing the next day.He found that $700 had been withdrawn from his bank account.The most for which Kyle will be legally liable is

Accepted Answer

A) $0. 
B) $25. 
C) $50. 
D) $500. 
E) $700. 
A) $0. 
B) $25. 
C) $50. 
D) $500. 
E) $700.

Question 5

A check you issued has been stolen.You can prevent it from being withdrawn from your account by an unauthorized person by

Accepted Answer

A) writing a new check. 
B) depositing the correct amount of money. 
C) requesting a stop-payment order. 
D) tearing up the check. 
E) properly endorsing the check. 
A) writing a new check. 
B) depositing the correct amount of money. 
C) requesting a stop-payment order. 
D) tearing up the check. 
E) properly endorsing the check.

Question 6

Asset management accounts (AMAs)combine many cash management services into one account.

Accepted Answer

A) True 
 B)False

Question 7

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-With low interest rates,savers have begun investing in [bonds | stocks] where higher yields can be found.

Accepted Answer

The answer of Choose the word or phrase in [...

Question 8

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-The most expensive method for banks to interact with their customers is [in person | by ATM ].

Accepted Answer

The answer of Choose the word or phrase in [...

Question 9

Treasury bills are sold at their face value.

Accepted Answer

A) True 
 B)False

Question 10

Credit unions are mainly found in the northeastern United States.

Accepted Answer

A) True 
 B)False

Question 11

A money market mutual fund is one way to participate indirectly in the purchase of money market securities.

Accepted Answer

A) True 
 B)False

Question 12

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Natalie is faced with two savings choices: Making a single deposit of $5,000 or making five annual deposits of $1,000.The interest rate on both is 4%,compounded monthly.The [lump sum deposit | annual deposits] plan will result in a higher balance at the end of five years.

Accepted Answer

The answer of Choose the word or phrase in [...

Question 13

Another term for the interest paid by credit unions on deposits is dividends.

Accepted Answer

A) True 
 B)False

Question 14

If interest on a savings account is compounded semiannually,the effective rate of interest will be

Accepted Answer

A) higher than the nominal rate. 
B) lower than the nominal rate. 
C) the same as the simple rate. 
D) equal to the nominal rate. 
E) lower than the simple rate. 
A) higher than the nominal rate. 
B) lower than the nominal rate. 
C) the same as the simple rate. 
D) equal to the nominal rate. 
E) lower than the simple rate.

Question 15

Savings banks are mainly found in the northeastern United States.

Accepted Answer

A) True 
 B)False

Question 16

As of 2014,the FDIC insures depositor's funds up to $250,000 at member banks.

Accepted Answer

A) True 
 B)False

Question 17

Asset management accounts are protected by the Federal Deposit Insurance Corporation.

Accepted Answer

A) True 
 B)False

Question 18

Most credit unions provide their members with deposit insurance.

Accepted Answer

A) True 
 B)False

Question 19

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-"For deposit only" would indicate a [blank | restricted] endorsement.

Accepted Answer

The answer of Choose the word or phrase in [...

Question 20

There are no limitations on check writing for both MMDAs and MMMFs.

Accepted Answer

A) True 
 B)False

EFTS allow you to make payments that occur on a regular basis.

Alice lost her EFTS card at the park and forgot to report it until her monthly statement came 26 days later.She found that $600 had been withdrawn from her bank account.Assuming she notifies the bank at this point,the most for which Alice will be legally liable is

Harry just received $2,000 for graduation.He plans on investing this money for five years at 8% compounded annually.If he accomplishes this,Harry will have in an ending balance of (Use time value tables or financial calculator)

Kyle lost his EFTS card at the lake and reported it missing the next day.He found that $700 had been withdrawn from his bank account.The most for which Kyle will be legally liable is

A check you issued has been stolen.You can prevent it from being withdrawn from your account by an unauthorized person by

Asset management accounts (AMAs)combine many cash management services into one account.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -With low interest rates,savers have begun investing in [bonds | stocks] where higher yields can be found.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -The most expensive method for banks to interact with their customers is [in person | by ATM ].

Treasury bills are sold at their face value.

Credit unions are mainly found in the northeastern United States.

A money market mutual fund is one way to participate indirectly in the purchase of money market securities.

Another term for the interest paid by credit unions on deposits is dividends.

If interest on a savings account is compounded semiannually,the effective rate of interest will be

Savings banks are mainly found in the northeastern United States.

As of 2014,the FDIC insures depositor's funds up to $250,000 at member banks.

Asset management accounts are protected by the Federal Deposit Insurance Corporation.

Most credit unions provide their members with deposit insurance.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -"For deposit only" would indicate a [blank | restricted] endorsement.

There are no limitations on check writing for both MMDAs and MMMFs.

Understanding the Financial Planning Process

Using Financial Statements and Budgets

Preparing Your Taxes

Making Automobile and Housing Decisions

Using Credit

Using Consumer Loans

Insuring Your Life

Insuring Your Health

Protecting Your Property

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds

Planning for Retirement

Preserving Your Estate

Filters

Exam 4: Managing Your Cash and Savings

EFTS allow you to make payments that occur on a regular basis.

Alice lost her EFTS card at the park and forgot to report it until her monthly statement came 26 days later.She found that $600 had been withdrawn from her bank account.Assuming she notifies the bank at this point,the most for which Alice will be legally liable is

Harry just received $2,000 for graduation.He plans on investing this money for five years at 8% compounded annually.If he accomplishes this,Harry will have in an ending balance of (Use time value tables or financial calculator)

Kyle lost his EFTS card at the lake and reported it missing the next day.He found that $700 had been withdrawn from his bank account.The most for which Kyle will be legally liable is

A check you issued has been stolen.You can prevent it from being withdrawn from your account by an unauthorized person by

Asset management accounts (AMAs)combine many cash management services into one account.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -With low interest rates,savers have begun investing in [bonds | stocks] where higher yields can be found.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -The most expensive method for banks to interact with their customers is [in person | by ATM ].

Treasury bills are sold at their face value.

Credit unions are mainly found in the northeastern United States.

A money market mutual fund is one way to participate indirectly in the purchase of money market securities.

Another term for the interest paid by credit unions on deposits is dividends.

If interest on a savings account is compounded semiannually,the effective rate of interest will be

Savings banks are mainly found in the northeastern United States.

As of 2014,the FDIC insures depositor's funds up to $250,000 at member banks.

Asset management accounts are protected by the Federal Deposit Insurance Corporation.

Most credit unions provide their members with deposit insurance.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -"For deposit only" would indicate a [blank | restricted] endorsement.

There are no limitations on check writing for both MMDAs and MMMFs.

Understanding the Financial Planning Process

Using Financial Statements and Budgets

Preparing Your Taxes

Making Automobile and Housing Decisions

Using Credit

Using Consumer Loans

Insuring Your Life

Insuring Your Health

Protecting Your Property

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds

Planning for Retirement

Preserving Your Estate

Filters