🔵 5-2 Financial Service Providers | Instruction

What is the first step in choosing a financial service provider?

• Make an informed decision

• Prepare a list of banks

• Conduct online research

• Identify your most important features

Which type of institution is member-owned and often offers lower fees?

• Commercial banks

• Investment companies

• Pawn shops

• Credit unions

What do life insurance companies provide?

• Short-term loans

• Checking accounts

• Policies that pay beneficiaries

• Home loans

Which financial service targets individuals needing quick cash but charges high fees?

• Credit unions

• Investment companies

• Commercial banks

• High-cost financial businesses

What is a risk of using car title loan companies?

• Low loan interest rates

• Free checking accounts

• High savings interest rates

• Losing your vehicle