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WorksheetsBF 2.03 Financial Service Providers
Total questions: 15
Worksheet time: 8mins
Dolores is trying to help her grandmother with some online banking tasks. Which of the following tasks can NOT be performed online?
Withdrawing cash from the ATM
Viewing bank statements
Checking account balance
Transferring money to Tucker's account
Tiara and Pearce are discussing about financial service providers. They are trying to identify which of the following would NOT be considered as a financial service provider. Can you help them?
Picasso Pawn
Rocket Mortgage
Bank of Internet USA
State Farm Insurance Company
Coen & Xavier are looking to invest their money and are considering various services. Which of the following services that they are considering would be considered an intermediation/advisory service?
Rocket Mortgage
Wellington Pension Fund Management
PNC Bank
E*Trade
Quinten is planning to celebrate his 18th birthday by parachuting, Malia is learning to drive a car, Coean is practicing law, and Dolores is running a business. Which of these activities would NOT be covered by a policy you would find being sold by insurance companies?
Quinten parachuting for his 18th birthday
Malia driving a car
Coean practicing law
Dolores running a business
Kayln is at an ATM machine and wants to withdraw some money. Which of the following is true about the Debit Card Personal Identification Number (PIN) she will need to use?
She will need to use them to get money out of the ATM machine
They are usually 10 digits
They are located on the back of the debit card
They are the last 4 digits of the Card Number
Dolores is at the bank, preparing a check for her monthly car installment to Toyota Finance Company. The amount is $532.00 and the due date is the 15th of every month. Her account number with them is 1439499. What information should Dolores put in the Memo section of the check?
Account # 1439499
$532.00
Five Hundred and Thirty-two Dollars and 00/100
Toyota Finance Company
Imagine it's a Sunday and Kayln urgently needs to withdraw money from her bank account to buy a gift for Mason's birthday party. Which of the following bank services would Kayln use?
ATM
PIN
Online Banking
Credit Card
Mason is looking for a service from a Mortgage Company. Which of the following is NOT a service that a Mortgage Company would typically provide to Mason if he wants to buy a house for his family?
Debt consolidation loans
Comparing the different types of mortgage loans for Mason
Prequalifying Mason for a mortgage
Offering loans for Mason's commercial or residential properties
Kayln, Coean, Pearce, Tiara, and Malia are all friends. One day, Pearce was discussing his financial situation with his friends. He mentioned that he wants to ensure that his check, ATM, wire transfer or debit card transaction will clear even if his bank account balance falls below zero. What service should Pearce use?
Overdraft Protection
Check Bouncing Protection
Dummy Protection
Asset Protection
Tucker and Coean have recently started a commercial bank in the US. They are in search of an electronic clearing and settlement system for their bank's financial transactions. Which system should they consider?
Automated Clearing House (ACH)
Automated Teller Machine (ATM)
Federal Deposit Insurance Corporation (FDIC)
Federal Reserve System (FRS)
Malia owns a successful bakery and has a large number of customers making payments for her delicious pastries. To streamline the process, she decides to use a service provided by banks. Instead of the payments going directly to her bakery, they are directed to a special post office box. The bank then goes to the box, retrieves the payments, processes them and deposits the funds directly into Malia's bakery's bank account. What is this service called?
Lockbox
Private Placement
Asset Management
Vendor Lease
Xavier, Pearce, and Kayln are working at a prestigious investment bank. Their task for the day is to direct a client's cash and securities. Malia, a new intern, is curious about this process. Can you help her understand what this process is called?
Asset Management
Vendor Lease
Lockbox
Private Placement
Imagine Jasmine is the owner of a small business in her town, 'Jasmine's Handicrafts', that manufactures unique handcrafted items. She has received a large order from a foreign country. To fulfill this order, she needs to purchase raw materials, pay her workers, and cover shipping costs. However, the payment for the order will not be received for up to 180 days. Which type of financing would help Dolores release the working capital tied up in this cross-border trade transaction, enabling her company to grow and increase trade?
Export Financing
Import Financing
Private Financing
Asset Management
Mason and Malia are co-founders of a tech startup. They need to raise capital for their company and decide to sell securities to a relatively small number of select investors. These investors can include large banks, mutual funds, insurance companies and pension funds. Xavier, a business consultant, asks Tucker and Dolores, what is this process called?
Private Placement
Export Placement
Import Placement
Asset Management
Imagine Ian is the owner of a local bookstore and his sales are not doing well. He decides to collaborate with a leasing company, where Kevin works, to boost his sales. This strategy is known as:
Vendor Lease
Asset Management
Private Placement
Export Financing
