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Practice Wise Test Questions WITH 100- SURE ANSWERS.
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EUNICEPractice Wise Test Questions WITH 100% SURE ANSWERS
Terms in this set (50)
If a person makes a deposit of $10,000 or c) us treasury department
more into a bank account, the bank must
notify the
a) state banking commission
b) federal reserve board
c) us treasury department
d) federal deposit insurance corporation
(FDIC)
A teenage boy has opened a checking c) save the bank money associated with returning copies of these checks
account. He is surprised to find that though
he is getting a written bank statement each
month he is not getting his cancelled
checks returned. The teenager should be
aware that the reason cancelled checks are
NOT returned is to
a) insure that he does not receive
important materials he is likely to lose.
b) lessen the bank's need to maintain
records of check transactions
c) save the bank money associated with
returning copies of these checks
d) protect him from providing
opportunities for forgery
The National Credit Union Administration a) Credit Unions
(NCUA) insures accounts in:
a) Credit Unions
b) Brokerage firms
c) Saving Banks
d) Commercial banks
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, Which is the best example of a way to a) When making supermarket purchases with a debit card, a person adds $50 in cash
reduce fees paid for ATM transactions? to the transaction instead of using an ATM machine.
a) When making supermarket purchases
with a debit card, a person adds $50 in
cash to the transaction instead of using an
ATM machine.
b) A person uses any convenient ATM
machine but only at night and on the
weekends.
c) A person uses any nearby bank ATM
machine rather than going to a branch of
the issuing bank to make ATM withdrawals.
d) When using an ATM machine, a person
takes only $20 each time out of the ATM
machine located in a neighborhood store.
Which documents should be stored in a b) Mortgage loan papers.
safe deposit box?
a) Current paycheck stubs.
b) Mortgage loan papers.
c) Copies of current and past budgets.
d) Checkbook statements
To qualify for a Federal Housing b) fulfill income guidelines.
Administration(FHA) loan, a person must
generally
a) have at least a high school diploma.
b) fulfill income guidelines.
c) have one-quarter of the cost of the
home for a down-payment.
d) provide two individuals to co-sign the
loan.
Which of the following is considered to be a) department store charge card
open-end credit?
a) department store charge card
b) a car loan
c) a mortgage
d) installment loan
When a person brings an item to a c) a collateralized loan.
pawnshop to obtain cash, the transaction is
considered
a) an unsecured loan.
b) a custodial payment.
c) a collateralized loan.
d) a sales agreement.
What is meant by an uncollateralized loan? d) A personal loan without assets to cover the loan amount.
a) A loan not backed by a co-signer who
agrees to cover the amount of the loan.
b) A loan taken on a life insurance policy.
c) A home equity loan.
d) A personal loan without assets to cover
the loan amount.
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