Finance And Accounting

Question: What is another name for a bill of exchange?
A
A savings account

B
A checking account

C
A certificate of deposit

D
A check

Note: Answer not sure
1. Report
Question: Why are offshore banks often able to offer a client higher interest rates?
A
Lower cost structure allows them to pay higher interest rates

B
They give away all of their earnings to their clients

C
They steal money from other clients to pay higher interest

D
Their laws require them to pay higher rates

Note: Answer not sure
1. Report
Question: What is the government entity that insures bank balances?
A
SEC

B
FDIC

C
IRS

D
GAAP

Note: Answer not sure
1. Report
Question: What is meant by "restrictive endorsement"?
A
Merely signing a check

B
Indorsing a check with terminology limiting how the funds can be applied

C
Writing a check out to a specific person

D
Presenting a check to a bank

Note: Answer not sure
1. Report
Question: What are the four requirements for a promissory note to be legal?
A
An unconditional order, a specific amount, being payable to a specific person, being payable on a specific date

B
Being payable to a specific person, being payable on a specific date, that both parties belong to the same bank, being payable in US currency

C
A specific amount, being payable to a specific person, only in U.S. funds, for a specific good or service

D
An unconditional order, being payable to a group of people, being payable on any given day in a 30 day time frame and for a specific amount

Note: Answer not sure
1. Report
Question: How is a money market account different from a savings account?
A
Only rich people are allowed to have money market accounts

B
Money market accounts are offered only by national banks, not by local banks

C
Money market accounts always require some monthly fee, savings accounts do not

D
A money market account earns a higher interest rate and typically has a limit on the number of transactions each month

Note: Answer not sure
1. Report
Question: Which of the following is not covered by the FDIC?
A
A checking account

B
Money market funds

C
A savings account

D
IRA

Note: Answer not sure
1. Report
Question: What does the term "Ex Gratia Payment" mean?
A
An extra payment made during a month on a bank loan

B
An extra interest payment made by the bank to customers

C
A late payment on a loan

D
Any payment made to an insured party for which an insurance company had no formal liability

Note: Answer not sure
1. Report
Question: What is the payment that people receive after a mishap which leaves them in the same financial position as they were in before they suffered the loss called?
A
Default

B
Collateral

C
Indemnity

D
Back pay

Note: Answer not sure
1. Report
Question: What type of account would someone who wants the facility to pay people through checks open?
A
A savings account

B
A checking account

C
A money market account

D
A stock account

Note: Answer not sure
1. Report

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Question: What is another name for a bill of exchange?

Question: Why are offshore banks often able to offer a client higher interest rates?

Question: What is the government entity that insures bank balances?

Question: What is meant by "restrictive endorsement"?

Question: What are the four requirements for a promissory note to be legal?

Question: How is a money market account different from a savings account?

Question: Which of the following is not covered by the FDIC?

Question: What does the term "Ex Gratia Payment" mean?

Question: What is the payment that people receive after a mishap which leaves them in the same financial position as they were in before they suffered the loss called?

Question: What type of account would someone who wants the facility to pay people through checks open?