Which of the following functions of a depository institution is NOT TRUE?

Consists of only commercial banks

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PFHS 2.03 Depository Institutions

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2.03 Financial Literacy, Depository Institutions #depositoryinstitutions

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Questions 10

Answers

1
Which type of savings tool pays the highest interest?
Savings Account
Money Market Deposit Account
Certificate of Deposit
Checking Account
2
This type of savings tool allows a debit card to be used w/ certain accounts to make purchases?
Money Market Deposit Account
Certificate of Deposit
None of the above
Savings Account
3
Legal Documents that function like cash and are used to withdraw money
Checks
Personal Identification Number (PIN)
Debit Card
Signature Authorization card
4
Rate of interest $ earns ↑ as the length of time one agrees to keep their $ in the account ↑
Certificate of Deposit
None of the above
Savings Account
Money Market Deposit Account
5
Credit unions, savings and loan institutions and banks are all examples of...
Banks
Financial Services
Depository Institutions
Checking Accounts
6
Which of the following functions of a depository institution is NOT TRUE?
Offers both checking accounts and savings tools
Assists people with daily financial tasks
Offers and sells financial services to people
Consists of only commercial banks
7
The most popular type of depository institution is:
Checking Account
Commercial Bank
Saving and Loan Institution
Credit Union
8
This savings tool allows one to withdraw money with a limited number of transactions per month
Savings Account
Money Market Deposit Account
None of the above
Certificate of Deposit
9
Type of saving tool that allows money to be deposited & withdrawn an unlimited number of times
Savings Account
None of the Above
Cerificate of Deposit
Money Market Deposit Account
10
Amount of money that is either gained or lost when accessing services offered by a bank
Investing
Interest
Savings
Interest Rate

PFHS 2.03 Depository Institutions Flashcards | StudBud

PFHS 2.03 Depository Institutions

10 termsStudBud Administration289 plays

2.03 Financial Literacy, Depository Institutions #depositoryinstitutions

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
Which type of savings tool pays the highest interest?
Savings Account
Money Market Deposit Account
Certificate of Deposit
Checking Account
2
This type of savings tool allows a debit card to be used w/ certain accounts to make purchases?
Money Market Deposit Account
Certificate of Deposit
None of the above
Savings Account
3
Legal Documents that function like cash and are used to withdraw money
Checks
Personal Identification Number (PIN)
Debit Card
Signature Authorization card
4
Rate of interest $ earns ↑ as the length of time one agrees to keep their $ in the account ↑
Certificate of Deposit
None of the above
Savings Account
Money Market Deposit Account
5
Credit unions, savings and loan institutions and banks are all examples of...
Banks
Financial Services
Depository Institutions
Checking Accounts
6
Which of the following functions of a depository institution is NOT TRUE?
Offers both checking accounts and savings tools
Assists people with daily financial tasks
Offers and sells financial services to people
Consists of only commercial banks
7
The most popular type of depository institution is:
Checking Account
Commercial Bank
Saving and Loan Institution
Credit Union
8
This savings tool allows one to withdraw money with a limited number of transactions per month
Savings Account
Money Market Deposit Account
None of the above
Certificate of Deposit
9
Type of saving tool that allows money to be deposited & withdrawn an unlimited number of times
Savings Account
None of the Above
Cerificate of Deposit
Money Market Deposit Account
10
Amount of money that is either gained or lost when accessing services offered by a bank
Investing
Interest
Savings
Interest Rate