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Financial Institutions Check Flashcards | StudBud
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Financial Institutions Check
Financial Institutions Check
15 terms
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StudBud Administration
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Class Check
Flashcards
15 cards
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Questions
15
Answers
1
Liquidity is the
opposite of the velocity of money
ease with which an asset can be converted into money
speed with which the price of its intrinsic value changes
same as the velocity of money
2
Loans for major items such as a new car, education, home improvement, and other household items
Installment loans
Mortgage
Credit Cards
None of the above
3
In order for an investment to make any real money it has to:
Exceed the rate of inflation
Not fine you for taking your money out early
Grow at least 10%
Compound Yearly
4
What account is your debit card linked too?
None of the above
Savings
Checking
Certificate of deposit
5
A bounced check is a check that
is not a real thing
is deposited
is returned since there isn't enough money in the account
is made of rubber
6
If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the
Federal Reserve Board
US Treasury Department
Federal Deposit Insurance Corporation (FDIC)
State Banking Commission
7
Easy access to money from multiple locations, 24 hours a day.
ATM
Credit Unions
Banks
Online Banking
8
Who insures credit unions
Owner
NCUA
Government
FDIC
9
Savings accounts are
an account at a local hardware store
an account you can deposit money and earn interest
an account you can write checks from
10
What is budgeting?
All of the above
A financial plan
Financial management
Tracking income and expenditure
11
Financial Institution help people manage their money, protect it, and make it grow.
False
True
12
Budgeting is important because...
It can help you save money
It can help you prepare for the future
Dinosaur
It gives you a good understanding of where your money goes
13
A monthly house payment is called a
Rental Payment
None of the above
Mortgage
House payment
14
Most Saving Banks are insured by
NOW
NCUA
FDIC
15
Checking Accounts
Endorsing transfersyour right to the check over to the bank.
Pay withchecks or debit cards rather than cash
Used to deposit checks
Use to put money in your accounts
