Personal Finance Ch. 10 Test Review

This is a non profit banking organization established by groups of employees in similar occupations.

• Commercial Bank

• Credit Union

• Savings Bank

• Savings and Loan Association

These companies buy and sell different securities.

• Savings and loan associations

• Credit unions

• Brokerage firms

• Savings banks

This is earnings on the principal balance on an account.

• Securities

• Interest

• Liquidity

• Fees

The actual interest rate an account earns stated on a yearly basis.

• APY

• ROI

• IRA

• APA

Which of the following choices is NOT important when choosing a banking facility or savings plan?

• Liquidity

• Employees

• Fees and Restrictions

• Security

The date on which a certificate of deposit is due or has met its completion is called what?

• Repurpose date

• Ending date

• Redemption date

• Maturity date

Which one of these is NOT considered a long-term need?

• Retirement

• Education

• Home ownership

• Vacations

Initial money deposited to earn interest is called what?

• Investment

• Principal

• Portion

• Earning

Commercial banks are also known as what?

• Convenience Banks

• Multi-Service Banks

• Full Service Banks

• Preferred Banks

What do Bonds represent?

• Agreement or refusal

• Liquidity or discount

• Equity or ownership

• Debt or Loan