FIN Chapter 4 - Financial Services: Savings Plans & Payment Accounts
If there is a shortage of cash, you will have two basic choices to cope with the situation: ________ From a savings or ________
Blank 1: spend, spending, withdrawing, or withdraw Blank 2: borrow, borrowing, loan, or loans
Select all that apply Which of the following deposit-type institutions serve as financial intermediaries? Investment companies Credit unions Savings and loans Commercial banks Insurance companies
Credit unions Savings and loans Commercial banks
What is not typically a basic concern of a financial services customer?
Does the bank offer tax preparation services?
A major concern with prepaid debit cards is which of the following?
The high fees often charged
true or false: A current shortage of cash can be overcome by liquidating savings or borrowing.
True
Using savings for paying ________ expenses is one of the mistakes people make when managing current cash needs.
current, immediate, daily, routine, normal, regular, everyday, personal, or present
Financial services are now offered by:
investment brokers credit card companies insurance companies
Common mistakes made when managing current cash needs include:
leaving funds in low-interest accounts too long. lacking sufficient liquid assets to pay current bills. overspending. using savings for current expenses.
Financial services will usually not be affected by:
stock prices.
True or false: Time deposits include money in savings accounts and certificates of deposits.
true
Which of the following is not an example of a type of financial service that is focused on payment services? In other words, which of the following does not involve payment of money on your part? Cashier's check Online payment Checking account Regular savings account
Regular savings account