The Fed, Banks and Banking

An outstanding check is one ___.

Deposits in these institutions (up to $250,000) are insured by the NCUA

The Federal Reserve ___.

Institutions can pay higher interest rates for money market accounts

If you don't have a checking account, you can use a __ for guaranteed, safe payment.

Which of the following savings vehicles is best suited for saving money over a period of years?

When writing a check, include all of the following except:

A charge for purchasing checks

Which of the following is NOT a characteristic of money?

A charge for not meeting certain requirements like minimum balance or writing too many checks

In order to deal with inflation, the Fed may __.

Savings accounts  __

If you 'opt-in' to overdraft protection, the bank will automatically cover you and charge a fee

This type of account is the MOST liquid type of account

Money that has value because the government said so is referred to as fiat money.

Which of the following is written from the bank's account on your behalf?

The __ rate is the basis for rates offered to a bank's BEST customers

This type of account is also known as a 'time deposit'

Deposits in these institutions (up to $250,000) are insured by the FDIC

___ is a sustained increase in the general price level of goods and services in an economy.

A charge for using a debit card

Before you open an account with a bank, you should consider __.

The following is an example of a

A check that is more than 6 months old is called a/an __

Non-profit institutions owned by members and organized for their benefit

A charge if you deposit a check that is returned for insufficient funds

Posing as a legitimate company to get personal information from people is referred to as phishing.

For-profit institutions that are owned by stockholders