Question 1

When opening a savings account it is important to consider

Accepted Answer

A) APY. 
B) minimum balance. 
C) fees. 
D) all of the options are correct. 
A) APY. 
B) minimum balance. 
C) fees. 
D) all of the options are correct.

Question 2

Which of the following is not included in the dependent life stage?

Accepted Answer

A) Certificate of deposit 
B) College savings plan 
C) Student loans 
D) Savings account 
A) Certificate of deposit 
B) College savings plan 
C) Student loans 
D) Savings account

Question 3

Which is not one of the three major consumer financial institutions?

Accepted Answer

A) Insurance companies 
B) Commercial banks 
C) Credit unions 
D) Savings institutions 
A) Insurance companies 
B) Commercial banks 
C) Credit unions 
D) Savings institutions

Question 4

Anna recently opened a savings account and made three deposits in the amounts of $100,000,$65,000,and $200,000.If the Great Depression was to occur again and the bank closed,how much money would Anna be insured for?

Accepted Answer

A) $365,000 
B) $200,000 
C) $250,000 
D) $100,000 
A) $365,000 
B) $200,000 
C) $250,000 
D) $100,000

Question 5

At a commercial bank,a checking account is referred to as

Accepted Answer

A) a demand deposit account. 
B) a share draft account. 
C) negotiable. 
D) a debit account. 
A) a demand deposit account. 
B) a share draft account. 
C) negotiable. 
D) a debit account.

Question 6

Where is a checking account referred to as a "share draft account"?

Accepted Answer

A) Commercial bank 
B) Credit union 
C) Any bank 
D) With your spouse 
A) Commercial bank 
B) Credit union 
C) Any bank 
D) With your spouse

Question 7

A negotiable instrument has to include all of the following except

Accepted Answer

A) specific amount of money. 
B) payable to someone or some company. 
C) bank's address. 
D) the date. 
A) specific amount of money. 
B) payable to someone or some company. 
C) bank's address. 
D) the date.

Question 8

Internet banking allows you to

Accepted Answer

A) check the balances in your accounts. 
B) deposit checks. 
C) deposit cash. 
D) all of the options are correct. 
A) check the balances in your accounts. 
B) deposit checks. 
C) deposit cash. 
D) all of the options are correct.

Question 9

In which life stage do you usually get a 529 plan?

Accepted Answer

A) Independent 
B) Empty nest 
C) Dependent 
D) Adolescent 
A) Independent 
B) Empty nest 
C) Dependent 
D) Adolescent

Question 10

You must be a resident of the state in which you open a college savings plan.

Accepted Answer

A) True 
 B)False

Question 11

Home equity loans use ________ as collateral to secure the loan.

Accepted Answer

A) an automobile 
B) a certificate of deposit 
C) the value of your 401(k) 
D) your home 
A) an automobile 
B) a certificate of deposit 
C) the value of your 401(k) 
D) your home

Question 12

Which is not a requirement for a negotiable instrument?

Accepted Answer

A) Date 
B) Payable for a specific amount of money 
C) Contains personal information (address,phone number,full name,etc.) 
D) Signature by person who owns the account 
A) Date 
B) Payable for a specific amount of money 
C) Contains personal information (address,phone number,full name,etc.) 
D) Signature by person who owns the account

Question 13

If you expect your income taxes to be higher when you retire and you are saving for retirement,you should invest in

Accepted Answer

A) traditional IRA. 
B) roth IRA. 
C) certificate of deposit. 
D) gold. 
A) traditional IRA. 
B) roth IRA. 
C) certificate of deposit. 
D) gold.

Question 14

In banking terminology,CD stands for

Accepted Answer

A) compact disk. 
B) cash on deliver. 
C) cash deposit. 
D) certificate of deposit. 
A) compact disk. 
B) cash on deliver. 
C) cash deposit. 
D) certificate of deposit.

When opening a savings account it is important to consider

Which of the following is not included in the dependent life stage?

Which is not one of the three major consumer financial institutions?

Anna recently opened a savings account and made three deposits in the amounts of $100,000,$65,000,and $200,000.If the Great Depression was to occur again and the bank closed,how much money would Anna be insured for?

At a commercial bank,a checking account is referred to as

Where is a checking account referred to as a "share draft account"?

A negotiable instrument has to include all of the following except

Internet banking allows you to

In which life stage do you usually get a 529 plan?

You must be a resident of the state in which you open a college savings plan.

Home equity loans use ________ as collateral to secure the loan.

Which is not a requirement for a negotiable instrument?

If you expect your income taxes to be higher when you retire and you are saving for retirement,you should invest in

In banking terminology,CD stands for

Money Matters: Values, vision, mission, and You

Planning and Budgeting

Time Value of Money

Consumer Credit: Credit Cards and Student Loans

Credit Bureau Reports and Identity Theft

Auto and Home Loans

Debt,foreclosure,and Bankruptcy

Tax Management

Insurance: Covering Your Assets

Investment Basics

Mutual Funds

Stocks

Bonds

Real Estate Investments

Retirement and Estate Planning

Financial Planning for Life

Filters

Exam 3: Financial Instruments and Institutions

When opening a savings account it is important to consider

Which of the following is not included in the dependent life stage?

Which is not one of the three major consumer financial institutions?

Anna recently opened a savings account and made three deposits in the amounts of $100,000,$65,000,and $200,000.If the Great Depression was to occur again and the bank closed,how much money would Anna be insured for?

At a commercial bank,a checking account is referred to as

Where is a checking account referred to as a "share draft account"?

A negotiable instrument has to include all of the following except

Internet banking allows you to

In which life stage do you usually get a 529 plan?

You must be a resident of the state in which you open a college savings plan.

Home equity loans use ________ as collateral to secure the loan.

Which is not a requirement for a negotiable instrument?

If you expect your income taxes to be higher when you retire and you are saving for retirement,you should invest in

In banking terminology,CD stands for

Money Matters: Values, vision, mission, and You

Planning and Budgeting

Time Value of Money

Consumer Credit: Credit Cards and Student Loans

Credit Bureau Reports and Identity Theft

Auto and Home Loans

Debt,foreclosure,and Bankruptcy

Tax Management

Insurance: Covering Your Assets

Investment Basics

Mutual Funds

Stocks

Bonds

Real Estate Investments

Retirement and Estate Planning

Financial Planning for Life

Filters