Retail Banking Industry and Processes, Finance And Accounting

Question: What was the purpose of the 2006 Deposit Insurance Fund?
A
To replace the FDIC

B
To merge the two earlier funds namely the Bank Insurance Fund and the Savings Associations Insurance Fund

C
To reduce consumer taxes on investment gains

D
To promote the idea that consumers should be saving money

Note: Answer not sure
1. Report
Question: Why can't anyone start a new bank?
A
The government allows only one new bank per year

B
There is a limit on the number of banks allowed to be opened

C
There is a freeze on opening new banks

D
It is a regulated industry and a license is required before opening a new bank

Note: Answer not sure
1. Report
Question: What is a secondary way through which banks earn money?
A
By selling memberships

B
Through ad revenue from their site

C
By paying lower interest on deposits and charging higher interest on advances

D
By charging fees on accounts

Note: Answer not sure
1. Report
Question: What does the term "Netting" mean?
A
Bringing in new customers to a bank

B
Paying interest on an outstanding loan

C
Combining an individual's bank accounts into one

D
The offsetting with a counterparty or counterparties of financial obligations or payments one owes with those one is entitled to receive

Note: Answer not sure
1. Report
Question: What is meant by the term "Amortization"?
A
Taking out a loan

B
The reduction of debt by regular principal payments

C
Payment of interest on a loan

D
Buying negotiable instruments

Note: Answer not sure
1. Report
Question: What is the current maximum limit that the FDIC will insure any one person at a bank for?
A
$50,000

B
$100,000

C
$250,000

D
$1,000,000

Note: Answer not sure
1. Report
Question: Checking all bank account papers to make sure that the bank records and your records agree is known as:
A
Credit check

B
Credit rating

C
Underwriting

D
Reconciliation

Note: Answer not sure
1. Report
Question: What is meant by the term "Thrift"?
A
A clearinghouse for checks

B
An organization formed for the purpose of holding deposits for individuals

C
A method of systematically saving money

D
Writing checks for an amount and cashing them for a different amount

Note: Answer not sure
1. Report
Question: What is one criticism of offshore banking?
A
No interest is earned on the account

B
Difficult to set up

C
It is often associated with organized crime

D
It helps the economy in foreign nations

Note: Answer not sure
1. Report
Question: What is a "bill of exchange"?
A
The same as a promissory note

B
A written order by the Drawer to the Drawee to pay money to the Payee

C
A loan agreement for property

D
A verbal payment agreement

Note: Answer not sure
1. Report

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Question: What was the purpose of the 2006 Deposit Insurance Fund?

Question: Why can't anyone start a new bank?

Question: What is a secondary way through which banks earn money?

Question: What does the term "Netting" mean?

Question: What is meant by the term "Amortization"?

Question: What is the current maximum limit that the FDIC will insure any one person at a bank for?

Question: Checking all bank account papers to make sure that the bank records and your records agree is known as:

Question: What is meant by the term "Thrift"?

Question: What is one criticism of offshore banking?

Question: What is a "bill of exchange"?