Finance And Accounting

Question: What amount would someone who has $500,000 in one bank and $250,000 in another bank be insured for in total?
A
$500,000: $500,000 from one bank and nothing from the other

B
$500,000: $250,000 from each bank

C
$250,000 in total regardless of the number of banks

D
$250,000 in total as the smaller deposit is the only one covered

Note: Answer not sure
1. Report
Question: What method would a consumer most likely use to move funds between their offshore account and their domestic account?
A
Mail cash

B
Wire transfer

C
Fly to the offshore country and withdraw it in person

D
Go to the local branch of the offshore bank

Note: Answer not sure
1. Report
Question: Which of the following would not be covered by the FDIC?
A
Checking accounts

B
Joint savings accounts

C
IRA

D
U.S. Government investments such as treasury bills

Note: Answer not sure
1. Report
Question: What level will the FDIC insure any one person at a bank for beginning January 1, 2010?
A
$50,000

B
$100,000

C
$250,000

D
$1,000,000

Note: Answer not sure
1. Report
Question: What is the definition of an offshore bank?
A
A bank located in a different state

B
A virtual bank with no physical location

C
A bank which only offers checking and no other services

D
A bank located outside the country of the depositor, usually in a lower tax jurisdiction

Note: Answer not sure
1. Report
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

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Question: What amount would someone who has $500,000 in one bank and $250,000 in another bank be insured for in total?

Question: What method would a consumer most likely use to move funds between their offshore account and their domestic account?

Question: Which of the following would not be covered by the FDIC?

Question: What level will the FDIC insure any one person at a bank for beginning January 1, 2010?

Question: What is the definition of an offshore bank?

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"?