Banking Guías de estudio, Notas de estudios & Resúmenes

Banking test What are the three main responsibilities of the Federal Reserve? - CORRRECT ANSWERS1. Provide and Maintain an effective payment system 2. Supervise and regulate banking operations 3. Conduct monetary policy Which type of financial institution typically has some sort of requirement to be a member? - CORRRECT ANSWERSCredit Union Which type of bank account is typically the most liquid? - CORRRECT ANSWERSChecking Account Compare/ contrast a checking account and savings accou...

Which of the following is usually the most significant source of bank income? - Answer- Lending Function Which of the following loans is normally unsecured? - Answer- Credit Card At what stage in the lending process do banks obtain and evaluate all available information to determine creditworthiness? - Answer- Investigation Discrimination against prospective borrowers because of where they live is know as: - Answer- Redlining A loan that is not guaranteed by any type of collateral is...

TEST BANK FOR THE U.S. BANKING SYSTEM 3RD EDITION CENTER FOR FINANCIAL TRAINING 1. Money is a medium of exchange for people to use to trade things of value. a. True b. False ANSWER: True POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 2.1.1 - LO: 2.1.1 2. A check is an example of bank currency. a. True b. False ANSWER: False POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 2.1.1 - LO: 2.1.1 3. There was no form of paper currency in colonial America. a. True b. False ANSWER: Fal...

Which of the following is NOT a source of income for a bank? A. the interest earned by depositors B. investments C. loan income from interest D. fees for services correct answers A The difference between what a bank pays in interest and what it receives in interest is called correct answers Spread True or False: A Financial intermediary will not take a deposit for a consumer. correct answers False Total assets minus total liabilities equals correct answers Equity The lo...

Banking Basics: Questions/Answers

Banking Test Questions With Answers What are the three main responsibilities of the Federal Reserve? - ANSWER 1. Provide and Maintain an effective payment system 2. Supervise and regulate banking operations 3. Conduct monetary policy Which type of financial institution typically has some sort of requirement to be a member? - ANSWER Credit Union Which type of bank account is typically the most liquid? - ANSWER Checking Account Compare/ contrast a checking acc...

Banking Topic Test QUESTIONS WITH COMPLETE SOLUTIONS In the formula I=P·r·t, what does r stand for? a. Rate: the percent that interest is paid annually as a decimal b. Ratio: the size of the interest interval compared to time c. Return: how much money you end up earning d. Reserves: how much money you have in the investment - ANSWER A Approximately how much principal would need to be placed into an account earning 3.575% interest compounded quarterly so that it has an accumu...

BANKING TEST What are the three main responsibilities of the Federal Reserve? 1. Provide and Maintain an effective payment system 2. Supervise and regulate banking operations 3. Conduct monetary policy Which type of financial institution typically has some sort of requirement to be a member? - Credit Union Which type of bank account is typically the most liquid? - Checking Account Compare/ contrast a checking account and savings account. Which offers more interest? Which is easier to get ...

BANKING TOPIC TEST A principal of $5,350 is placed in an account that earns 3.5% interest. If the interest is compounded annually, how much money will be in the account at the end of 4 years? a. $5,760.06 b. $5,537.25 c. $6,099.00 d. $6,139.25 - Ans D Approximately how much principal would need to be placed into an account earning 3.575% interest compounded quarterly so that it has an accumulated value of $68,000 at the end of 30 years? a. $23,706 b. $23,377 c. $52,069 d. $58,...

What is the best reason for Jacinta to have a savings account in addition to a checking account? A savings account allows her to set her money aside. Sofia has saved $10,000 and wants to be sure that she is earning substantial interest on her money. Though she plans to add to her savings as her earnings increase, she wants to be able to access her money if the need should arise. Which type of account is most suitable for Sofia's needs? a money market account Which of these is an...