Banking - W!SE Remediation

Led to major stock market losses in 2001

The Federal Reserve is responsible for monitoring

Insures deposits at commercial banks

Businesses that make loans based on the value of assets pledged as collateral are called

ATM stands for

A money order is similar to a

The FDIC insures commercial bank accounts up to

The Federal Reserve (the Fed) acts as the United States

An automatic deposit of an employee's pay directly into an account is called

A cashier's check is funded by money

Which type of savings plan does the interest rate vary from month to month?

All of the following are commercial banks EXCEPT

Bartering and trading turned into

Money that is going to be left in a financial institution for months or years is called a(n)

Act that allows businesses to "scan" checks and accelerate check processing.

Major economic event in 1929

What major event has had a great impact on economic activity in the U.S. in the 20th century?

The rate of return on an investment would be greatest when the interest is compounded

Percentage of all deposits that banks are required to retain on hold.

The process of matching your checkbook register with the bank statement

An automatic loan made to an account to cover incoming transactions when it is short of funds

Banks offer all of the following services EXCEPT

When you are able to earn interest on previously earned interest it is called

Using a debit card to pay for a meal at a restaurant is called a

The likely culprit of an investment, such as a savings account, losing value over time is

If interest is compounded quarterly, interest will be calculated every

Which of the following is best to use when saving money over a period of years?

Companies that "lease" products, such as appliances, to consumers on weekly or monthly basis.

The signature on the back of a check is called a(n)

The percentage of increase in the value of savings from earned interest