Financial Institutions Quiz

What are the benefits of financial institutions?

• They provide tax preparation services

• They offer free stock trading services

• They provide insurance for checking and savings accounts

• They offer high interest rates on savings accounts

What services are offered by financial institutions?

• Grocery delivery

• Home cleaning services

• Mortgage loans

• Currency exchange

What is not covered by the FDIC insurance?

• Life insurance policies

• Mutual funds

• Stocks and bonds

• Checking accounts

What are the types of accounts generally offered by financial institutions?

• Consumer loans

• Health savings accounts

• Savings accounts

• Retirement accounts

What are the functions of financial institutions?

• Offering educational programs

• Providing legal services

• Facilitating monetary transactions

• Managing real estate properties

What are the costs associated with check-cashing services?

• Lower rates than banks

• Higher rates than banks

• No fees at all

• Fixed monthly fee

What are the disadvantages of financial institutions?

• They offer low interest rates on loans

• They charge fees for certain services

• They provide free financial advice

• They offer high interest rates on savings accounts

What is the role of FDIC in financial institutions?

• It provides insurance for checking and savings accounts

• It offers free stock trading services

• It provides tax preparation services

• It offers high interest rates on savings accounts

What services are not typically offered by financial institutions?

• Home cleaning services

• Mortgage loans

• Currency exchange

• Consumer loans

What is the role of financial institutions in the economy?

• They control the weather

• They facilitate the exchange of goods and services

• They provide entertainment

• They manage public transportation