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- 1. Multiple Choice1) The FDIC in the United States insures some financial accounts up to what amount?a. $10,000b. $50,000c. $250,000d. $500,000
- 2. Multiple Choice2) What is true about credit unions?a. They are not insured by the government.b. They are generally member owned.c. They only offer savings accounts.d. All of the above are true.
- 3. Multiple Choice3) Web-only financial institutions do not have which of the following?a. Checking accountsb. Savings accountsc. Interestd. Physical locations
- 4. Multiple Choice4) Mutual savings institutions are owned by who?a. Stock holdersb. Members of the institutionc. Governmentd. All of the above
- 5. Multiple Choice5) An example of a nondepository financial institution is which of the following?a. Commercial bankb. Credit unionc. Brokerage firmd. All of the above
- 6. Multiple Choice6) What is the end of the CD account time when the money can be withdrawn?a. Maturity dateb. End datec. Completion dated. Withdrawal date
- 7. Multiple Choice7) Brokerage firms make their profits primarily in which of the following ways?a. Consumer depositsb. Government depositsc. Dividendsd. Fees or commissions on sales or transfers
- 8. Multiple Choice8) Pawnshops generally offer what type of service?a. Check cashingb. Loans on possessionsc. High interest savings accountsd. Life insurance
- 9. Multiple Choice9) What is true about certificates of deposit?a. They offer lower interest rates than savings account.b. They are the most liquid account available.c. The money has to remain in the account for a specified period of time.d. All of the above are true.
- 10. Multiple Choice10) Who would be eligible for a 403b account?a. A salespersonb. A CEO of a Fortune 500 companyc. A government employeed. Anyone
- 11. Multiple Choice11) How many government agencies does the United Kingdom have to oversee the financial industry?a. Oneb. Threec. Fived. Eleven
- 12. Multiple Choice12) Savings and loans institutions put about 70 percent of their money into which of the following?a. Bondsb. Stocksc. Life insurance policiesd. Mortgages
- 13. Multiple Choice13) Commercial banks are funded through which of the following?a. Customer depositsb. Stock holdersc. Government fundingd. Services
- 14. Multiple Choice14) Mutual fund companies are what type of companies?a. Mortgageb. Investmentc. Credit cardd. Insurance
- 15. Multiple Choice15) 401k accounts are what type of accounts?a. Mortgageb. Bondc. Retirementd. Education
- 16. Multiple Choice16) Accounts in non-depository institutions are almost always insured by the government.a. Trueb. False
- 17. Multiple Choice17) The Federal Deposit Insurance Corporation (FDIC) is an insurance agency that is supported by the government in the United States.a. Trueb. False
- 18. Multiple Choice18) In the United States, all financial institutions are required to conduct business at a physical location only.a. Trueb. False
- 19. Multiple Choice19) Check cashing businesses do not require that an individual be an account holder; they will cash any valid check.a. Trueb. False
- 20. Multiple Choice20) The government provides no oversight of financial institutions in most countries.a. Trueb. False
- 21. Multiple Choice21) All financial institutions are equally safe and beneficial to use.a. Trueb. False
- 22. Multiple Choice22) All financial institutions offer the same products and services to consumers.a. Trueb. False
- 23. Multiple Choice23) Financial experts recommend that you compare at least several different financial institutions in these areas and find the one that best meets your needs.a. Trueb. False
- 24. Multiple Choice24) 401k accounts are those that are partially funded by employers using a portion of wages before tax.a. Trueb. False
- 25. Multiple Choice25) Credit unions are non-profit organizations.a. Trueb. False
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