FM S1 Final Exam

Front

What is the maximum amount insured by the FDIC for money in financial institutions?

Back

$250,000

Front

What is a snowflake?

Back

A snowflake is a crystal of ice that forms in the atmosphere and falls to the ground as snow.

Front

Is it important to make eye contact during a meeting?

Back

True, making eye contact shows engagement and respect.

Front

Is an iPhone 11 considered a need or a want?

Back

A want.

Front

What are examples of needs?

Back

Air, shelter, and food.

Front

What does FDIC stand for?

Back

Federal Deposit Insurance Corporation.

Front

What is the difference between needs and wants?

Back

Needs are essential for survival, while wants are things we desire but can live without.

Front

What is the purpose of the FDIC?

Back

To protect depositors by insuring deposits in member banks.

Front

What is an example of a need?

Back

Food.

Front

What is an example of a want?

Back

A new video game.