PF Ch. 4

The text discusses several types of bonds. Which bonds is also called a Patriot Bond?: a. Series E b. Series EE c. Series HH d. Series I e. Series Q

Series EE

The FDIC temporarily increased its coverage in October 2008 to _____ per depositor: a. $50,000 b. $100,00 c. $150,000 d. $250,000 e. $500,000

$250,000

A demand deposit is also known as : a. A checking account b. A trust c. A loan d. A savings account e. All of these are time deposits

A checking account

A time deposit is also known as: a. A checking account b. A trust c. A loan d. A savings account e. All of these are time deposits

A savings account

If you want to buy U.S. savings bonds, you may purchase them at: a. Banks b. Financial institutions c. Online d. All of the above e. None of the above

All of the above

Chloe signed the back of her check with nothing else by it. She used a(n): a. Blank endorsement b. Restrictive endorsement c. Deposit ticket d. Special endorsement e. Individual account

Blank endorsement

Many people make mistakes when managing current cash needs. Which of these is NOT a frequent made mistake? a. Borrowing for current expenses b. Budgeting spending c. Failing to put extra funds in an investment plan d. Having insufficient liquid assets to pay bills e. Overspending due to impulse buying on credit

Budgeting spending

Nora bought a used car and was told that she needed a check with guaranteed payment. She obtained a ________: a. Certified check b. Cashier's check c. Money order d. Personal check e. Traveler's check

Certified check

Earning interest on interest is called: a. Compounding b. Liquidity c. Minimum deposit d. Rate of return e. Safety

Compounding

A joint account with Sara and Ean allows: a. Ean only to write checks b. Sara only to deposit money into the account c. Sara or Ean to complete a signature card d. Ean and Sara to both write checks on the account e. None of the above

Ean and Sara to both write checks on the account

When Angela wanted to provide financial security for her dependents, she considered purchasing a specific type of account at a ________. a. Credit card company b. Investment company c. Life insurance company d. Mortgage company e. Payday loan company

Life insurance company

Justin needs to have access to his money in 5 months. The best option for his savings is: a. Series EE bond b. Money market account c. 5-year certificate of deposit d. Series I bond e. 6-month certificate of deposit

Money market account

Kyle went to a post office to obtain a _________: a. Certified check b. Cashier's check c. Money order d. Personal check e. Traveler's check

Money order

Which of the following provides deposit insurance for credit unions: a. FDCU b. FDIC c. NCUA d. SAIF e. None of the above

NCUA

The text discusses several types of bonds. Which bonds pays interest for 30 years that is exempt from state and local taxes?: a. Series E b. Series EE c. Series HH d. Series I e. Series Q

Series EE

The text discusses several types of bonds. Which bond is purchased at a face value and has two components to the rate of interest earned - a fixed rate as well as a rate that adjusts twice a year?: a. Series E b. Series EE c. Series HH d. Series I e. Series Q

Series I

Common payment choices for everyday activities include all except: a. Cash b. Check c. Credit card d. Short-term loan e. Debit card

Short-term loan

Margaret signed the back of her check with the words "pay to the order of Penelope." She used a(n): a. Blank endorsement b. Restrictive endorsement c. Deposit ticket d. Special endorsement e. Individual account

Special endorsement

Jennifer received a $40 gift card for her favorite retailer. What kind of card did she receive? a. Debit card b. Online payment c. Stored- value card d. Smart card e. All of the above

Stored- value card

Why are some financial service operations referred to as financial supermarkets?: a. They offer a combination of services from one source b. Customers can receive cash and a receipt c. They have many locations, like supermarkets d. They are often located in supermarkets or convenience stores e. Their prices are similar to those in a supermarket

They offer a combination of services from one source

Anders went to Norway and went shopping. He had to sign his name a second time on his document at the store. Anders used a ________: a. Certified check b. Cashier's check c. Money order d. Personal check e. Traveler's check

Traveler's check