Exam 4: Financial Instruments and Institutions

What are financial intermediaries?

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

Which of the following is a difference between commercial banks and credit unions?

Electronic bill paying allows you to

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

What plan is also known as a qualified tuition plan?

Financial intermediaries accept money for deposits and then lend out the money to make a profit.

Of the following statements,which one accurately describes what investments are?

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

Savings institutions are also referred to as savings and loan associations (S & Ls),thrift institutions,and savings banks.

Which criteria would you not use in selecting an institution to bank with?

When opening a savings account it is important to consider:

A checking account at a commercial bank is called a:

Certificates of deposit

_________________ were established for people who have a common bond.

You should do all of the following to prevent written checks from being altered except:

A _________________ is an account designed to encourage saving for future college expenses and is legally known as a "qualified tuition plan."

Savings accounts are limited by the number of third party withdrawals.

To choose the right type of financial instrument,which of the following should you consider?

Certificates of deposit are good for