Exam 5: Managing Checking and Savings Accounts

Stock brokerage firms are federally insured institutions.

CD laddering is a technique that smoothes out the fluctuations in interest rates and lowers inflation rate risk.

Periodically,you should conduct an account reconciliation in which you compare your records with your bank's records.

Fees of no more $10 are generally charged for money orders,certified checks and cashier's checks.

Money deposited in mutual funds is insured by the federal government.

A stock brokerage firm is a licensed financial institution that

An asset management account is a multiple-purpose,coordinated package that provides a wide variety of financial services.

Which of the following could be the most expensive way of protecting yourself from fees should you overdraft your checking account?

The term money market account describes a variety of high-interest earning accounts that normally have unlimited check-writing privileges.

The Federal Deposit Insurance Corporation (FDIC)currently insures against loss of up to ____ per person in an individual account at any one institution.

Which of the following might be used by an employer to pay an employee?

A personal identification number (PIN)is required when using a(n)

Your bank will regularly (usually monthly)a compilation of your recent account activity is called a(n)

In community property states,the rights of the husbands and wives are unequally protected.

ATM cardholders are liable for only the first $50 of unauthorized use if they notify the issuing company within five business days after the loss or theft of their card or PIN.

List the money market accounts according to the interest rate generally paid on each account (from highest to lowest).

One can increase the amount of money covered by FDIC insurance by dividing his or her money among different branch offices of the same depository institution.

Which of the following is the least expensive way of protecting yourself from fees should you overdraft your checking account.

When an account pays one rate of interest on a minimum amount on deposit and a higher rate of interest on additional deposits,this is called ____ interest.

College students who are independent of their parents may qualify for very low-cost lifeline banking accounts.