Finance And Accounting

Question: What amount would a customer be covered for by the FDIC if he/she had $250,000 in savings at Bank XYZ, and also $50,000 in a retirement account with the same bank?
A
$0

B
$300,000

C
$250,000

D
$50,000

Note: Answer not sure
1. Report
Question: What amount would a customer be insured for if they made deposits to their accounts at three different locations of their bank?
A
$250,000

B
$750,000

C
$0

D
$50,000

Note: Answer not sure
1. Report
Question: What is an example of 'restrictive endorsement'?
A
Signing a check

B
Not signing a check

C
Handing someone a check in their name

D
Writing "for deposit only" on the back of a check

Note: Answer not sure
1. Report
Question: What is meant by the term "Clearing House"?
A
The wire system used worldwide to clear wire transfers

B
A central collection point where banks within a specified geographical area exchange checks with one another

C
A place where the interest rate is determined

D
None of these

Note: Answer not sure
1. Report
Question: When was the FDIC established?
A
1801

B
1933

C
2008

D
1997

Note: Answer not sure
1. Report
Question: What is the purpose of the FDIC?
A
It provides deposit insurance guaranteeing the safety of retail banking customers' money

B
It acts as a clearing house for all checks

C
It provides loans to banks

D
It provides loans to consumers

Note: Answer not sure
1. Report
Question: What would happen if Mr. X made a check out to Mr. Y for $100, who indorsed the check, and then sold it for $50 to Mr. Z? Would Mr. Z be able to cash the check?
A
Yes, but only for $50, not the face value of $100

B
Yes, for the amount of $100

C
No, Mr. Z can not cash it since it was sold to him for less than the face value

D
No, since it was not issued to him

Note: Answer not sure
1. Report
Question: Which of the following is a reason for a person to open an offshore account?
A
They are pressured into it by their family

B
They are required to by law

C
They want the ability to move their money out of their home country banking system, especially during times of economic turbulence

D
They think the onshore banking industry is about to collapse

Note: Answer not sure
1. Report
Question: What is meant by "online banking"?
A
Using the internet to log in to and interact with your bank account

B
Going to the bank and talking to the teller

C
Using the ATM machine

D
Mailing checks to the bank for deposit

Note: Answer not sure
1. Report
Question: Which of the following is a benefit of an offshore bank account?
A
Ability to walk into a local branch of the bank

B
Low taxation on the transactions related to the offshore account

C
Debit cards

D
Customer service

Note: Answer not sure
1. Report

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Question: What amount would a customer be covered for by the FDIC if he/she had $250,000 in savings at Bank XYZ, and also $50,000 in a retirement account with the same bank?

Question: What amount would a customer be insured for if they made deposits to their accounts at three different locations of their bank?

Question: What is an example of 'restrictive endorsement'?

Question: What is meant by the term "Clearing House"?

Question: When was the FDIC established?

Question: What is the purpose of the FDIC?

Question: What would happen if Mr. X made a check out to Mr. Y for $100, who indorsed the check, and then sold it for $50 to Mr. Z? Would Mr. Z be able to cash the check?

Question: Which of the following is a reason for a person to open an offshore account?

Question: What is meant by "online banking"?

Question: Which of the following is a benefit of an offshore bank account?