BF 2.03 Financial Service Providers

Dolores is trying to help her grandmother with some online banking tasks. Which of the following tasks can NOT be performed online?

• Withdrawing cash from the ATM

• Viewing bank statements

• Checking account balance

• Transferring money to Tucker's account

Tiara and Pearce are discussing about financial service providers. They are trying to identify which of the following would NOT be considered as a financial service provider. Can you help them?

• Picasso Pawn

• Rocket Mortgage

• Bank of Internet USA

• State Farm Insurance Company

Coen & Xavier are looking to invest their money and are considering various services. Which of the following services that they are considering would be considered an intermediation/advisory service?

• Rocket Mortgage

• Wellington Pension Fund Management

• PNC Bank

• E*Trade

Quinten is planning to celebrate his 18th birthday by parachuting, Malia is learning to drive a car, Coean is practicing law, and Dolores is running a business. Which of these activities would NOT be covered by a policy you would find being sold by insurance companies?

• Quinten parachuting for his 18th birthday

• Malia driving a car

• Coean practicing law

• Dolores running a business

Kayln is at an ATM machine and wants to withdraw some money. Which of the following is true about the Debit Card Personal Identification Number (PIN) she will need to use?

• She will need to use them to get money out of the ATM machine

• They are usually 10 digits

• They are located on the back of the debit card

• They are the last 4 digits of the Card Number

Dolores is at the bank, preparing a check for her monthly car installment to Toyota Finance Company. The amount is $532.00 and the due date is the 15th of every month. Her account number with them is 1439499. What information should Dolores put in the Memo section of the check?

• Account # 1439499

• $532.00

• Five Hundred and Thirty-two Dollars and 00/100

• Toyota Finance Company

Imagine it's a Sunday and Kayln urgently needs to withdraw money from her bank account to buy a gift for Mason's birthday party. Which of the following bank services would Kayln use?

• ATM

• PIN

• Online Banking

• Credit Card

Mason is looking for a service from a Mortgage Company. Which of the following is NOT a service that a Mortgage Company would typically provide to Mason if he wants to buy a house for his family?

• Debt consolidation loans

• Comparing the different types of mortgage loans for Mason

• Prequalifying Mason for a mortgage

• Offering loans for Mason's commercial or residential properties

Kayln, Coean, Pearce, Tiara, and Malia are all friends. One day, Pearce was discussing his financial situation with his friends. He mentioned that he wants to ensure that his check, ATM, wire transfer or debit card transaction will clear even if his bank account balance falls below zero. What service should Pearce use?

• Overdraft Protection

• Check Bouncing Protection

• Dummy Protection

• Asset Protection

Tucker and Coean have recently started a commercial bank in the US. They are in search of an electronic clearing and settlement system for their bank's financial transactions. Which system should they consider?

• Automated Clearing House (ACH)

• Automated Teller Machine (ATM)

• Federal Deposit Insurance Corporation (FDIC)

• Federal Reserve System (FRS)