LIBF Unit 3 Glossary Questions

An Administration order is:

• A court order to manage the affairs of a company in financial trouble

• A government directive to enforce new regulations

• An executive order issued by the President

• A legal document to transfer property ownership

What are Arrears?

• Arrears are payments made in advance.

• Arrears are payments that are overdue.

• Arrears are a type of loan.

• Arrears are a form of investment.

What are Assets?

• Assets are resources owned by a company that have economic value.

• Assets are liabilities that a company owes to others.

• Assets are the profits made by a company.

• Assets are the expenses incurred by a company.

What is Attendance Allowance?

• A government benefit for people with disabilities

• A type of insurance policy

• A tax deduction for employees

• A retirement savings plan

What is an Automatic credit transfer?

• A method of transferring funds automatically between accounts

• A manual process of crediting accounts

• A type of loan offered by banks

• A credit card transaction

What is Automation?

• The use of technology to perform tasks without human intervention

• A manual process of completing tasks

• A type of computer programming

• A form of artistic expression

What is Bank liquidity?

• The ability of a bank to meet its financial obligations as they come due.

• The process of converting assets into cash.

• The amount of cash a bank holds in its vault.

• The interest rate at which a bank lends money.

What is the Bank rate?

• A rate at which a central bank lends money to domestic banks

• A rate at which banks lend money to customers

• A rate at which banks borrow money from each other

• A rate at which banks offer savings accounts

What is Bankruptcy?

• A financial situation where a person or entity cannot repay their debts

• A type of investment strategy

• A method of saving money

• A form of insurance

What is a Basic bank account?

• A type of account with no fees and limited features

• A premium account with high interest rates

• An account for cryptocurrency trading

• A joint account for multiple users