Exam 1: An Overview of the Changing Financial-Services Sector

Managing the financial affairs and property of individuals and business firms falls under the type of banking service line known as cash management services.

A(n)_______________________ is a traditional service which permits a depositor to write a draft in payment for goods and services.

A bank that wires funds for the purchase of a beach house in South Carolina for a customer in Oklahoma is carrying out the __________ of banks.

Wholesale banks are those banks that:

MyWebCast is a new company that makes it easy for individuals to create streaming videos on the Internet to share with friends and family for a small fee.MyWebCast wants to expand their offerings of video streaming services but needs cash to be able to do this.The Second National Bank of Oklahoma City,through a subsidiary,gives them the cash they need for an ownership share in the company.Which of the more recent services that banks offer is MyWebCast taking advantage of?

During the middle ages,banks encountered religious opposition because:

Banks which serve primarily households and small firms are known as ____________ banks.

Under U.S.federal law,an institution making only loans to households and offering uninsured checkable deposits and savings deposits qualifies as a commercial bank.

Companies such as Merrill Lynch and Sears which offered some but not all banking services in the 1980s were called ______________________.

A greater proportion of major corporations have deserted the banking system in recent years to raise borrowed funds directly from the open market.

The Edmond National Bank serves only the City of Edmond,Oklahoma and concentrates on providing the best possible service to this city.What type of bank is this most likely to be?

Alexander Phua goes to his local bank and gets an insurance policy that protects him against loss in case he is in a car accident.Which of the following roles is the bank performing?