Banking Products & Services

Which of the following describes developing business continuity plans?

• Planning and preparing to operate in case of serious incidents or disasters and recovering within a timely manner

• . Protecting the institution against fraud, robbery and phishing

• Training employees to identify fraudulent bank notes

• Requiring more than one method of credential authentication to verify a customer’s identity for a login or transaction

Making payments on time is an important part of managing which of the following?

• Checking account

• Savings account

• Trust account

• Loan account

Some checking accounts may require an individual do which of the following?

• Provide proof of income

• Make an opening deposit

• Pay a fine

• Apply for a personal loan

Which financial institution protects individuals by insuring bank deposits?

• FDIC

• FSA

• FIS

• LPM

Deposits are insured by the Federal Deposit Insurance Corporation up to _____________ per depositor.

• $100,000

• $150,000

• $200,000

• $250,000

Which of the following financial institutions provides loans for prospective home buyers?

• Mortgage companies

• Brokerage firms

• Insurance companies

• Savings and loan associations

Goldman Sachs is which type of financial institution?

• Commercial bank

• Investment bank

• Brokerage firm

• Insurance company

According to the segment, which of the following financial institutions commonly disperse loans for home repairs, construction and refinancing?

• Commercial banks

• Brokerage firms

• Savings and loan associations

• Insurance companies

Financial institutions are monitored through which of the following?

• Federal Reserve System

• National Banking Union Administration

• Federal Deposit Insurance Corporation

• National Financial Institution Agency

Which of the following are meant to store money which is NOT intended for daily expenses?

• Loan accounts

• Checking accounts

• Savings accounts

• Credit accounts