Banking Products and Services

Front

Financial institutions are monitored through which of the following?
Federal Reserve System, National Banking Union Administration, Federal Deposit Insurance Corporation, National Financial Institution Agency

Back

Federal Reserve System

Front

Which of the following are meant to store money which is NOT intended for daily expenses? Loan accounts, Checking accounts, Savings accounts, Credit accounts

Back

Savings accounts

Front

Financial advisors typically recommend an individual has enough savings to cover at least _____________ months worth of bills.

Back

Three to six

Front

An individual who hold legal control of assets in a trust account is known as which of the following? Controller, Dependent, Claimer, Beneficiary

Back

Beneficiary

Front

Loans have ________________ interest rates and repayment periods.

Back

Fixed

Front

Lower interest rates are ideal because it means a consumer will pay a ________________ cost for borrowing the loan.

Back

Lower

Front

Individuals have a set period of __________________ to repay the loan according to the loan agreement.

Back

Time

Front

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

Back

$250,000

Front

Which of the following financial institutions provides loans for prospective home buyers? Mortgage companies, Brokerage firms, Insurance companies, Savings and loan associations

Back

Mortgage companies

Front

Which of the following financial institutions commonly disperse loans for home repairs, construction and refinancing?
Options:
Commercial banks,
Brokerage firms,
Savings and loan associations,
Insurance companies

Back

Savings and loan associations