Money Management Ch. 25

The National Credit Union Administration insures a depositor's funds up to

$100,000

When Juan deposits $5,000 into his savings account for one year at 5% interest, what is the total amount at the end of the year?

$5,250

Which of the following is NOT a non-deposit-type institution? A. pawnshop B. credit union C. life insurance company D. mortgage company

B. a credit union

Which of the following is NOT a service of commercial banks? A. offer checking accounts B. offer cash for jewelry C. profits shared by credit union members D. savings left in a savings account

B. offer cash for jewerly

Which agency was created by the federal government to supervise and regulate member banks so they serve the public efficiently?

Federal Reserve Bank, Federal Deposit Insurance Corporation, National Credit Union Administration

The widest range of financial services is offered by

a commercial bank

An example of a deposit-type financial institute is

a credit union

Glenda Hopewell has set aside money for her children's college education. Which financial service will manage Glenda's investments on her behalf?

a trust

The items most likely to be stored in a safe-deposit box are

bond and stock certificates

Which financial institutions offers the widest range of services to its customers?

commercial banks

Economic growth is based on what?

commercial banks, credit unions, savings and loan association

Money that financial institutions lend to others

creates more jobs

Which of the following best describes investments?

credit union members

The main purpose of a consumer finance company is to

make loans for durable goods

A credit union differs from other financial institutions in that it is

organized as a not-for-profit organization

A check cashing outlet is commonly used by

people who do not have a bank account

Automatic teller machines (ATMs)

provide automatic teller service quickly and easily

The main purpose of the Federal Reserve System is to

supervise and regulate member banks

Investments that are especially managed by banks for its customers, especially the very young and the elderly are said to be held in

trust

Which of the following institutions would most likely charge the highest fees in making loans to its customers? A. credit union B. commercial bank C. cash-checking outlet D. pawnshop

D. pawnshop