Banking Review

Which of these services is NOT provided by a bank?

• auto loans

• home mortgages

• savings accounts

• wills and estate planning

Which of these agencies insures deposits in bank accounts?

• FDA

• FDIC

• FICA

• FTC

For how much will the FDIC insure an account holder's deposits?

• $50,000

• $125,000

• 250,000

• $1 million

Which of the following will always increase your balance in your account?

• automatic bill pay

• direct deposit

• P2P payments

• transfer between accounts

ATM cards are usually connected with

• checking accounts

• credit cards

• money market accounts

• savings accounts

Which type of savings locks your savings away for a certain amount of time?

• all savings accounts

• certificate of deposit

• money market accounts

• stock market accounts

Banks will often charge a fee for

• cashing a check

• falling below a minimum balance

• sending a P2P payment

• transferring money between accounts

"Bouncing" a check is formally called

• a debt

• a fraud

• an overdraft

• a withdrawl

For your savings account you want a _____ interest rate, but for a loan you want a _____ interest rate.

• high, high

• high, low

• low, high

• low, low

Which of the following should be irrelevant when choosing a bank?

• the amount of their fees

• their commercials on television

• the interest rates they charge

• the locations they have