Chapter 11 Finance Review

Accounting is a service of tax form preparation, tax planning, and business tax consulting.

• True

• False

There are three major categories of banks.

• True

• False

A brokerage firm brings buyers and sellers of stock and other securities together and facilitates transactions for a fee.

• True

• False

The Gramm-Leach-Bliley Financial Services Modernization Act of 1999 allowed banks, insurance companies, and securities firms to affiliate and sell each other's products.

• True

• False

A certificate of deposit is a high risk and therefore high return investment that usually pays a lower interest rate than a traditional savings account.

• True

• False

What is NOT considered to be a consumer loan?

• Retail Goods

• Travel

• Machinery

• Education

What do real estate services include?

• Property valuation

• Handling transactions for the purchase and sale of real estate property

• Decorating the home that is for sale

• Property Lawncare

What act allowed banks to use electronic images of checks instead of paper?

• Check 21 Act

• Banking Act of 2001

• 1933 Banking Act

• Expedited Funds Availability Act

What is the life expectancy of a $1 bill?

• 1 year

• 22 months

• 36 months

• 3 years

What is considered to be a government loan?

• Schools

• Roads

• Public buildings

• All of the above