The Business of Banking (B1)

Front

United 1st Credit Union is which type of financial intermediary?

Back

depository

Front

Banks are non-profit businesses.

Back

False

Front

A business that acts as a middle-man by facilitating financial transactions between others

Back

financial intermediary

Front

Which asset is least liquid? cash in your wallet, money in your checking account, real estate

Back

real estate

Front

Creditworthy customers must have: a good credit rating, sufficient collateral, ongoing income to make loan payments.

Back

all of the answers listed are correct

Front

Historically, who could use a commercial bank?

Back

only businesses

Front

Who can use the services of a commercial business today?

Back

both individuals and businesses

Front

Commercial banks must earn a profit to survive?

Back

True

Front

You can open a checking account at all of the following financial institutions EXCEPT: commercial bank, credit union, retail bank.

Back

central bank

Front

Which is NOT a way that banks keep your money safe? Options: requiring you to physically come into the bank to access your money, accurate record keeping, identity theft protection, examinations by federal and state bank authorities

Back

requiring you to physically come into the bank to access your money