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
