Chapter 25 - The Banking System and Financial Services 2

Front

An insurance company is an example of a deposit type financial institution.

Back

False

Front

The profits of a credit union are shared among its depositors.

Back

False

Front

A pawnshop charges lower fees than most other financial institutions.

Back

False

Front

Safe deposit boxes allow savers to earn interest on their money.

Back

False

Front

The main purpose of the Federal Reserve System is to protect a depositors money in case of bank failure.

Back

False

Front

The widest range of financial services is offered by

Back

a commercial bank

Front

The main purpose of a consumer finance company is to

Back

make loans for durable goods

Front

Automatic teller machines (ATMs)

Back

provide automatic teller service quickly and easily

Front

Glenda Hopewell has set aside money for her children's college education. Which financial service will manage Glenda's investments on her behalf?

Back

trust

Front

Money that financial institutions lend to others

Back

creates more jobs