Banking & Finance - 2016
Quiz by Rachel Nally
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30 questions
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- Q1The calculation for simple interest is __________x interest rate x time.down paymentmonthprincipalmaturity value30s
- Q2The three C’s of credit include all of the following except __________.cooperationcapacitycharactercollateral30s
- Q3The total amount of taxes owed is called __________.exemptiontax credittax liabilityincome tax30s
- Q4Many companies offer __________, which is an automatic deposit of net pay to an employee’s designated bank account.indirect depositdirect depositamortizationautomated payments30s
- Q5Which of the following assets is the most liquid?The money in your savings accountTen shares of common stockA certificate of deposit that comes due in six monthsThe money in your billfold30s
- Q6Overdraft protection isthe amount of interest that a financial institution would pay on a deposit.the use of a debit card to purchase an item at a retail store.the percentage of increase in your account from earned interest.an automatic loan made to an account if the balance will not cover a transaction made on the account.30s
- Q7A(n) _______________________ is a report that accounts for the differences between a bank statement and a check book balance.endorsementbank reportbank reconciliationannual report30s
- Q8The maximum amount of money a creditor will allow a credit user to borrow is called aline of creditcredit ratinggrace periodcredit report30s
- Q9The person, business or organization receiving a check is referred to as the __________.draweedrawerpayeepayer30s
- Q10The price paid for an insurance policy is called a __________.premiumdeductibleco=paybeneficiary30s
- Q11People who deposit money into banks are known as __________.depositorsbrokersfinancersdonors30s
- Q12A period of time when investors are confident in the economy and stock prices are rising is referred to as a __________.diverse marketreclining marketbull marketbear market30s
- Q13A spending plan for the use of money over time based on goals and expected income is aowner's equitybudgetstatementincome statement30s
- Q14The bank that you write your checks from is called the __________.draweedrawerpayerpayee30s
- Q15A __________ endorsement is used to transfer a check to another party.simpleblankspecialrestrictive30s