Quiz by Joan Kane
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- Q 1/10Score 0If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the29Federal Deposit Insurance Corporation. (FDIC).State Banking Commission.US Treasury Department.Federal Reserve Board.
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- Q1If a person makes a deposit of $10,000 or more into a bank account, the bank must notify theFederal Deposit Insurance Corporation. (FDIC).State Banking Commission.US Treasury Department.Federal Reserve Board.30s
- Q2Which financial product has the most predictable income?Certificate of depositStockReal estateOption/future contract30s
- Q3When James received his paycheck, he planned to cash it at a check cashing store. You advise him to cash it at his own bank if possible. Why?There is likely to be a ceiling on the size of the check he can cashThey generally require a co-signerThey typically require a two day waiting period before giving cashThey typically charge high fees30s
- Q4Which documents should be stored in a safe-deposit box?Current paycheck stubs.Checkbook statements.Mortgage loan papers.Copies of current and past budgets.30s
- Q5Money orders are:Available for no fee at banks and retail storesDistributed by the Treasury DepartmentA purchased certificate to pay a specified amount to a specific payeeA certified check used to pay a specified amount to a specific payee30s
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