Finance Test 2
Brenda lost her debit card. When she realized it was gone, her account had $173 in unauthorized charges. She notified her financial institution within two days. How much is she potentially liable for?
$50
An all-in-one account that provides a complete financial services program for a single fee is known as
asset management account
Why are some financial service operations referred to as financial supermarkets?
they offer a combination for services from one source
Brandon lost his debit card. When he realized it was gone, his account had $238 in unauthorized charges. Since he was embarrassed about his loss, he didn't contact his financial institution for 70 days. What is the most that he is liable for?
$238
Which of the following primarily provides loans for home purchases?
A mortgage company
Franklin is planning for a purchase of a vehicle in two years. Since he wants to be certain that his funds are safe (insured), which of the following should he use?
Savings account
All of the following are non-deposit institutions except: -a credit card company -an investment company -a life insurance company -a finance company -a credit union
a credit union
All of the following are deposit institutions except: -a commerical bank -a credit union -a finance company -a mutual savings bank -a savings and loan assoication
a finance company
Which of the following will likely provide the most expensive loans?
a payday loan company
a drawback of a regular savings account is
a relatively low rate of return
A legal agreement that provdies for the management and control of assets by one party for the benfit of another is known as
a trust
Investments, insurance, and tax assistance are tools for financial planning and are also known as
financial services
When Angela wanted to provide financial security for her dependents, she considered purchasing a product that would provide income replacement in the event of her untimely death and also provide a savings/investment component while she is alive. Which company would she most likely do business with?
life insurance company
