FBLA: Banking & Financial Systems

Front

Many recent bank closings can be tied to: credit default swaps, competition and recent laws governing banks, the recession, unethical practices and greed

Back

unethical practices and greed

Front

What is another name for the rate of the return on a savings account?

Back

yield

Front

What is the first sale of a common stock to the public called?

Back

IPO

Front

What do actuaries do?

Back

evaluate the likelihood of future events

Front

What's the best action to take after an interview?

Back

Evaluate how you did and send a thank you note.

Front

When is revenue recorded? Options: contract talks reach a successful ending, when sales or services take place, cash is received from the customer, at the end of a quarter when financial statements need to be prepared

Back

when sales or services take place

Front

The Board of Governors are:

Back

appointed by the president and confirmed by the Senate for 14 year terms

Front

EFT is an acronym for

Back

electronic funds transfer

Front

If you had a savings account at a bank, which of the following would be correct concerning the interest that you would earn on this account? Income tax may be charged on your interest depending on your income. , Your interest would not be credited to your account until you turn 18., Sales tax may be charged on the interest that you earn., Earnings from saving account interest may not be taxed.

Back

Income tax may be charged on your interest depending on your income. 

Front

What is the primary goal of insurance?

Back

to allocate the risks of loss from the individual to a great number of people