Finance And Accounting - Upwork
 

  1. Question: What does the term "Nostro Account" imply?

    A
    It is another term for an Escrow Account

    B
    It is a banking term to describe an account a bank holds with a bank in a foreign country, usually in the currency of that country

    C
    It is an account with a bank from which any part of the balance may be withdrawn on demand

    D
    It is an account with two or more authorized signatories

    Note: Answer not sure
    1. Report

  2. Question: Why do banks offer debit cards and off-site ATM machines?

    A
    To encourage people to shop and go into debt

    B
    For the convenience of their customers in order to build brand loyalty

    C
    Because it is required by law

    D
    Because everyone else does it

    Note: Answer not sure
    1. Report

  3. Question: What does FDIC stand for?

    A
    Financial Deposit Insurance Company

    B
    Federal Draft Insurance Company

    C
    Financial Draft Insurance Corporation

    D
    Federal Deposit Insurance Corporation

    Note: Answer not sure
    1. Report

  4. Question: What is meant by the term "Discrete Compounding"?

    A
    Paying interest on loans made to other banks

    B
    The process of calculating interest and adding it to the existing principal and interest at the end of finite time intervals such as a day, a month or a year

    C
    Compounding interest only on high interest loans

    D
    The difference between the cost of money and the rate received on it

    Note: Answer not sure
    1. Report

  5. Question: Which of the following is a risk with having money in a bank?

    A
    The bank might close down

    B
    There is no insurance mechanism in place on banks

    C
    The US dollar might crash

    D
    There is a run on the banks during turbulent economic times, due to which banks may be unable to give customers all of their money on demand

    Note: Answer not sure
    1. Report

  6. 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

  7. 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

  8. 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

  9. 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

  10. 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
    1. Report
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