Wise Financial Literacy Test -- Banking

Front

If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the

Back

U. S. Treasury Department.

Front

Which financial product can you buy for $25, is safe, and will be worth $50 at a future date?

Back

Series EE savings bond

Front

A blank endorsement on a check

Back

Creates a check that can be cashed by anyone

Front

Patty is selling her car through a newspaper advertisement. When she finds a buyer, she wants a form of payment which is guaranteed to be good. Which form of payment should she avoid?

Back

personal check

Front

Which financial product typically pays the highest rate of interest? Options: savings account, money market account, certificate of deposit, common stock

Back

common stock

Front

Safe-deposit boxes are

Back

Safe and can be accessed only by the owner of the box

Front

Which financial product has the most predictable income? Options: stock, real estate, certificate of deposit, option/future contract

Back

certificate of deposit

Front

Troy has $50 a month transferred electronically from his checking account to his savings account. This is an example of:

Back

a savings plan

Front

Pat has a savings account and a car loan from a not-for-profit financial institution owned by its members. She is probably a member of what type of financial institution?

Back

credit union

Front

The most liquid type of investment is: a corporate bond, a certificate of deposit, real estate holding, a money market account

Back

a money market account