Retail Banking Industry and Processes, Finance And Accounting

Question: What is a typical retail banking service?
A
Selling merchandise

B
Offering consumers checking accounts

C
Establishing web interfaces for customers

D
Selling real estate

Note: Answer not sure
1. Report
Question: What does MMDA stand for?
A
Massive money draft account

B
Money making draft account

C
Monopoly market deposit account

D
Money market deposit account

Note: Answer not sure
1. Report
Question: What is "Demand Deposit" account another name for?
A
A Treasury Bill

B
A Checking Account

C
A Certificate of Deposit

D
A Mortgage

Note: Answer not sure
1. Report
Question: What is a negotiable instrument drawn against deposited funds to pay a specified amount of money to a specific person on demand called?
A
A mandate

B
A checking Account

C
A loan request

D
A promissory note

Note: Answer not sure
1. Report
Question: Why was the FDIC created?
A
To manage consumer loans

B
To provide a clearing house for consumer loans

C
To provide a clearing house for consumer checks and drafts

D
To give consumers the confidence that their money in the bank would remain safe even if the bank failed.

Note: Answer not sure
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Question: Why do the words Debit and Credit have meanings on a bank statement different from the ones which they have in normal accounting ( i. e. a debit is actually a withdrawal, a credit a deposit)?
A
The bank statement is created from the bank's perspective, not the customer's

B
The bank industry has different rules from those of the GAAP

C
It has been a tradition since the 1800s

D
None of these

Note: Answer not sure
1. Report
Question: What is a bank branch?
A
The entire company of a bank including all locations

B
An investment tool

C
A physical location of a bank, or one of the several locations of larger banks

D
The internet site of a bank

Note: Answer not sure
1. Report
Question: What is the situation in which many customers try to withdraw their bank deposits simultaneously, but the bank's reserves are not sufficient to cover the withdrawals called?
A
Run

B
Overdraft

C
Panic

D
Bankruptcy

Note: Answer not sure
1. Report
Question: Why was the FDIC limit of insurance raised to $250,000 temporarily in 2008 thru 2009?
A
The failure of several banks created a need to bolster consumer confidence in the industry

B
To help consumers reduce their tax liabilities

C
To help stimulate the economy

D
To provide loans to consumers for housing

Note: Answer not sure
1. Report
Question: What is the primary way a bank earns 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

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Question: What is a typical retail banking service?

Question: What does MMDA stand for?

Question: What is "Demand Deposit" account another name for?

Question: What is a negotiable instrument drawn against deposited funds to pay a specified amount of money to a specific person on demand called?

Question: Why was the FDIC created?

Question: Why do the words Debit and Credit have meanings on a bank statement different from the ones which they have in normal accounting ( i. e. a debit is actually a withdrawal, a credit a deposit)?

Question: What is a bank branch?

Question: What is the situation in which many customers try to withdraw their bank deposits simultaneously, but the bank's reserves are not sufficient to cover the withdrawals called?

Question: Why was the FDIC limit of insurance raised to $250,000 temporarily in 2008 thru 2009?

Question: What is the primary way a bank earns money?