Financial Institutions Quizs

What free mortgage services do mortgage companies offer?

• Loan applications and approvals

• Quotes, calculators, and guides.

• Credit score checks and reports

• Home inspection services

What do insurance companies provide?

• Financial coverage to protect individuals or organizations against possible adverse events in exchange for premium payments.

• Investment opportunities for individuals to grow their wealth over time.

• Legal advice and representation in court for various cases.

• Health services and medical treatments for insured individuals.

Name some examples of mortgage companies.

• Mr. Cooper®

• Zillow® Home Loans

• Quicken Loans®

• Bank of America®

Name some examples of brokerage firms.

• Fidelity®

• E*TRADE®

• Robinhood®

• Acorns®

What is the focus of credit unions?

• Helping their members save and borrow money and receive affordable financial services, offering higher savings rates and charging lower fees compared to most banks.

• Maximizing profits for shareholders and providing high-interest loans to customers.

• Offering investment opportunities in the stock market and real estate.

• Providing insurance services and financial planning for businesses.

Who regulates mortgage companies?

• The Federal Deposit Insurance Corporation (FDIC)

• The Securities and Exchange Commission (SEC)

• The Federal Trade Commission (FTC)

• The Consumer Financial Protection Bureau (CFPB)

What are non-depository financial institutions?

• Organizations that offer federally insured deposit accounts.

• Organizations that do not offer federally insured deposit accounts, including investment banks, brokerage firms, insurance companies, and mortgage companies.

• Organizations that only provide loans to individuals.

• Organizations that manage government funds.

What services do retail banks provide?

• A wide variety of financial services for individuals, families, and small businesses, including checking and savings accounts, mortgages, credit cards, and auto loans.

• Investment banking services for large corporations and institutions.

• Insurance products exclusively for high-net-worth individuals.

• Foreign exchange services for international trade only.

Name some examples of credit unions.

• Cornerstone Credit Union League™

• Bank of America®

• Wells Fargo®

• Chase Bank®

Name some examples of insurance companies.

• Allstate®, Nationwide Mutual Insurance Company®, State Farm Insurance®

• Bank of America®, Wells Fargo®, Citibank®

• Amazon®, eBay®, Alibaba®

• Apple®, Microsoft®, Google®