Finance And Accounting

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
Question: How have banks changed in recent years to respond to customer needs and wants?
A
They have started offering fewer services

B
They have started interacting more with customers by requiring people to come into the bank

C
Banks have started providing investment and insurance services also to offer customers one stop shopping

D
They have started charging higher interest rates

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

B
The same as a draft

C
A written promise by the maker to pay money to the payee.

D
A loan agreement for property

Note: Answer not sure
1. Report
Question: Why do banks charge higher interest rates from customers with poorer credit?
A
As a moral penalty

B
To create a disparity between the rich and the poor

C
Due to risk based pricing policy i.e. charging a higher rate from customers more likely to default

D
To dissuade poor credit customers from banking

Note: Answer not sure
1. Report
Question: Why do offshore banks not save someone from paying taxes on the money in the account?
A
The offshore bank will contact the U.S. government and inform them of what the customers are doing

B
The U.S. tax law requires all citizens to pay taxes on both domestic and foreign earnings

C
The offshore bank will collect taxes on behalf of the U.S. government

D
None of these

Note: Answer not sure
1. Report
Question: What is the definition of a negotiable instrument?
A
The payee can negotiate what amount is actually deposited into their accounts; it does not have to be the amount stated

B
special type of contract for the payment of money capable of transfer by negotiation

C
A contract for land

D
music instrument purchased through a draft

Note: Answer not sure
1. Report

First Prev 131 132 133 134 135 Next Last

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"?

Question: How have banks changed in recent years to respond to customer needs and wants?

Question: What is a "promissory note"?

Question: Why do banks charge higher interest rates from customers with poorer credit?

Question: Why do offshore banks not save someone from paying taxes on the money in the account?

Question: What is the definition of a negotiable instrument?