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PERIOD 1-F/L QUIZ- UNIT 3-FINANCIAL INSTITUTIONS

Quiz by Teresa

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33 questions
Show answers
  • Q1
    It's when someone opens new accounts, credit cards or loans in your name.
    Finance fraud
    30s
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    Delete
  • Q2
    It's when someone commits a crime while assuming your identity.
    Criminal Fraud
    30s
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  • Q3
    A crime that involves someone pretending to be another person by stealin your ID in order to steal money or obtain benefits.
    Identity theft
    30s
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  • Q4
    An electronic warning placed on your accounts to monitor for suspicious financial activity.
    Fraud Alert
    30s
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  • Q5
    Equifax, Experian and TransUnion.
    Credit reporting companies
    30s
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  • Q6
    An account at a depository financial institution that is designed to hold money and earns interest.
    Savings account
    30s
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  • Q7
    A no-frills checking account that offers a low minimum opening deposit with reduced fees and no interest bearing.
    Basic Checking Account
    30s
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  • Q8
    A type of savings account that pays a higher interest rate because the financial institution invests the money you deposit.
    Money market account
    30s
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  • Q9
    A savings alternative in which money is left on deposit for a stated period of time to earn a specific rate of return.
    Certificate of Deposit (CD)
    30s
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  • Q10
    It allows customers to complete certain transactions from a secured Internet site by using a username and password from any place in the world with Internet access.
    Online banking
    30s
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  • Q11
    A government insurance agency that insures customers' deposits if a bank fails up to $250,000 per depositor.
    FDIC (Federal Deposit Insurance Corporation)
    30s
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  • Q12
    It focus on things you want to achieve in life.
    Personal goal
    30s
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  • Q13
    It focus on achieving accomplishments agreed upon by the family and working as a team to collectively identify and establish goals for the family unit.
    Family goal
    30s
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  • Q14
    It is a workplace retirement account that's offered as an employee benefit. The account allows you to contribute a portion of your pre-tax paycheck to tax-deferred investments.
    401(k) plan
    30s
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  • Q15
    Tax-deferred accounts to which wage earners can contribute an amount up to a yearly maximum.
    Individual Retirement Accounts (IRAs)
    30s
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  • Q16
    They are Specific, Measurable, Attainable, Realistic and Timely.
    SMART goals
    30s
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  • Q17
    A business that provides financial and monetary transactions.
    Financial Institution
    30s
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  • Q18
    Institutions that provide financial and monetary transaction governed by federal and state laws and by banking regulations.
    Banking Financial Institutions
    30s
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  • Q19
    They offer various banking services but do not have a banking license. Generally, these institutions are not allowed to take traditional demand deposits—readily available funds, such as those in checking or savings accounts—from the public.
    Non-Banking Financial Institutions
    30s
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  • Q20
    A card issued by a bank from the checking account allowing the holder to transfer money electronically to another bank account when making a purchase.
    Debit card
    30s
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    Delete

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