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Finding Financial Services Review
A financial institution that provides compensation in case of a disaster or accident
What should your parents do to save for your college education?
Open a savings account
What is the primary reason for the expansion of financial services?
Changes in technology that make more services available
What is a checking account feature that provides an automatic loan when you spend more than you have in your account?
What do credit cards charge?
How do debit cards work?
Debit cards directly deduct funds from your account
True/False Online banking provides immediate access to your funds anytime, day or night
True/False Online banking automatically transfers funds instead of writing checks.
True/False Online banking can deposit checks automatically into your account.
True/False Online banking allows you to pay bills anytime, day or night.
Why do financial service providers charge fees?
To cover the cost of providing services to their customers
True/False The best way to build a relationship with a banker is to buy stocks and bonds from him/her.
True/False The best way to build a relationship with a banker is to open a checking account at his/her bank.
Who are banks chartered by?
Both state and federal governments
True/False If you only have a small amount of money to save, you probably want to buy stocks that are guaranteed to increase your earnings.
True/False If you only have a small amount of money to save, you probably want to open a savings accounts at your local bank or credit union.
True/False The best way to protect your coin collection is to get a safety deposit box at your bank.
True/False The best way to protect your coin collection is to buy an insurance policy.
Who is a person who assists others in buying investments such as stocks and bonds?
Where can you get cash on the weekend?
Where does the cash come from when you are using the ATM?
Your Checking Account
What allows you to move money from your savings account when your checking account is too low to cover your paymen?
True/False A bank specializes in home loans.
What company specializes in home loans?
True/False One of the costs associated with using a debit card is that you are charged interest on your purchases.
True/False One of the costs associated with using a debit card is that you can overspend by borrowing too much money.
One of the cost associated with using a debit card is that your spending is limited by the amount of interest you earn on your account.
One of the costs associated with using a debit card is that your spending is limited to the amount of money in your account.
True/False The primary purpose of a savings account is to assist with financial transactions.
True/False The primary purpose of a checking account is to allow you to buy now and pay later.
True/False The primary purpose of a checking account is to assist with financial transactions.
A career focused on buying newly created stocks in the primary market
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An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions.
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