Banking Review

Front

How can individuals be prepared for losing their job or having a large medical expense?

Back

Save at least three months of income

Front

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

Back

US Treasury Department

Front

The term used to describe the ease and speed with which you can convert savings or an investment to cash is: Liquidity

Back

Liquidity

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 National Credit Union Administration (NCUA) insures accounts in: Credit unions

Back

Credit unions

Front

Financial services and products generally offered by banks and credit unions include: Savings and loans

Back

Savings and loans

Front

Why should James cash his paycheck at his own bank instead of a check cashing store?

Back

They typically charge high fees.

Front

You have a checking account balance of $100 and you deposit a personal $200 check from your brother in your checking account. When will you be able to withdraw $150 in cash?

Back

3 to 7 days later, depending on your bank's check clearance policy

Front

What agency was created by the federal government to protect bank customers by insuring their deposits?

Back

Federal Deposit Insurance Corporation (FDIC)

Front

A financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans.

Back

Bank