Unit 4 - Module 110

Réussis tes devoirs et examens dès maintenant avec Quizwiz!

The FDIC only covers up to __________ per depositor per insured bank.

$250,000

Based on the graph, what is the percentage of U.S. households that are either unbanked or underbanked?

25.6 %

Based on the graph, what percentage of U.S. households was found to be unbanked?

7.7 %

Based on the graph, what percentage of U.S. households have adequate banking?

70.3 %

If a bank fails, funds up to the coverage amount will be transferred to ____________ or the depositor will receive a check.

Another FDIC bank

A _______________ is normally insured by the FDIC.

Commercial Bank

A _______________ is owned by its members.

Credit Union

A _______________ is regulated by the NCUA.

Credit Union

A _______________ most likely offers higher interest rates on savings accounts.

Credit Union

_________ provides coverage for checking accounts and for savings accounts in commercial banks.

FDIC

A credit union is operated on a for-profit basis.

False

Anyone can cash a paycheck at a credit union.

False

Deposits at federally chartered credit unions and state chartered credit unions are always insured by the same federal agency.

False

People must purchase one share of a commercial bank before they can become customers.

False

The FDIC covers safe deposit boxes.

False

The Federal Deposit Insurance Corporation insures credit union deposits if the credit union fails.

False

The FDIC came into being due to the number of failed banks during the

Great Depression

Both the Federal Deposit Insurance Corporation and the National Credit Union Share Insurance Fund insure deposits up to $250,000.

True

FDIC stands for Federal Deposit Insurance Corporation.

True

Over 25% of U.S. households surveyed by the FDIC are either unbanked or underbanked.

True

Savings accounts are offered at both a credit union and at a bank.

True

The insurance coverage for a failed bank is up to $250,000.

True

Without using a bank or credit union, it costs money to cash a paycheck.

True

One advantage to having a checking account through either a bank or a credit union is that you can use _____________ for your paycheck.

direct deposit

The FDIC provides coverage for checking accounts and for __________.

savings

Those people who are considered __________ use cash-checking services frequently.

underbanked


Ensembles d'études connexes

Range, Threshold, Gravity Model and Central Place Theory

View Set

Chapter 11: Divisions of the Nervous System

View Set

Key Concepts, Chapter 7, Legal Dimensions of Nursing Practice

View Set

The Skeletal System- Movements and Articulations

View Set