FBLA Banking and Financial SystemsPage 1
- Which of the following is not a reason for financial planning?
- A budget can best be describe from the following:
- Savings, house payments, and utilities are all examples of:
- Families should keep all of the following except:
- A mortgage or lease is an example of a(n):
- A financial institution that offers all types of services is called a:
- The checking account that has no minimum balance requirements and no service fees is the:
- A checking account for which you pay a fee for each check processed is a(n):
- A disadvantage of a NOW account is that:
- A check written by the bank on its own funds is a :
- The money used by banks for loans come primarily from:
- Which of the following should not be kept is a safety deposit box?
- Writing the words FOR DEPOSIT ONLY on the back of a check before your name constitutes a:
- An endorsement in full is also called a:
- The process of matching your checkbook balance with the bank statement balance is known as:
- You will receive the greatest gain on your principal if interest is compounded:
- When interest is paid on interest earned, you receive the:
- The withdrawal penalty for a six-month time certificate is:
- A type of account that cannot be withdrawn until age 59½ is a(n):
- The advantage of buying Series EE savings bonds is that:
- Which of these is tax deductible and tax deferred?
- Agreements to buy a commodity at a specified price on a specified date are called:
- Which of the following is not an investment?
- A note guaranteed by a pledge of property or assets is:
- A preferred stock that does not share with common stock in the profits of the corporation is called:
- The type of fund that invests in short-term government, bank, and corporate notes is called a(n):
- Which of the following is not characteristic of common stockholders?
- Which of the following caused many Americans to lose confidence in credit?
- Property you possess that is worth more than debts is called:
- A regular account is often described as:
- At which of the following will you probably get they lowest rate of interest for a consumer loan?
- It is illegal to discriminate on the basis of which of the following in granting or denying credit?
- Point systems can be based on all but which of the following personal factors?
- Under Truth in Lending, if you report your credit card lost or stolen, your liability is limited to:
- The consumer’s present credit status is shown in the
- Unauthorized use of a credit report can result in a penalty of a year in jail plus a fine of:
- Subtracting payments made before computing the charge describes the:
- When you multiply principal times rate of interest times length of repayment time, the result is the
- The difference between cash price and total price when installment payments are made are called:
- The wage earner’s plan of bankruptcy is a compulsory, court-enforced plan to repay a portion of debts, usually over a period of:
- Which of the following types of debts is not discharged by bankruptcy?
- The type of bankruptcy wherein creditors ask the court to declare a debtor bankrupt is:
- Which type of bankruptcy is commonly called a straight bankruptcy proceeding?
- Which of the following exempted items is incorrect?
- The original Consumer Bill of Rights was introduced by President:
- The Better Business Bureau:
- When interest rates are high, the average consumer will:
- Money began with:
- The first paper money began in the 7th century in:
- When the US currency exchange rate decreases because of a persistent deficit in balance of payments, it’s called:
- A bank owned by depositors that mainly handles savings accounts and makes loans to homebuyers is a:
- A nationwide banking plan set up by our federal government to supervise and regulate member banks:
- A financial institution that specializes in making loans for long-lasting or durable goods and financial emergencies is a:
- Written evidence that you received payment or that you transferred your right of receiving payment to someone else is a(n):
- Withdrawals made on a member’s shares of ownership in a credit union are:
- The owner of the account and the person who signs the check is the:
- The person to whom the check is written:
- The bank or other financial institution that pays a check:
- A form of payment that orders the issuing agency to pay the amount printed on the form to another party is a:
- Writing a personal check for more money than is in one’s account is:
- Checks that have been paid by the bank are:
- Returning a check to the drawer’s bank to be paid and charged to his or her checking account is called:
- Interest computed on the amount saved plus the interest previously earned is:
- The percentage of interest that will be added to your savings over a period of time is:
- Interest that is computed only on the amount saved is:
- A money market account is sometimes preferred to a regular savings account because this amount:
- A long-term savings account that offers a relatively high rate of interest compared to other accounts is:
- Checks are referred to as share drafts in
- Which of the following is not an advantage of checks?
- Which sentence is true about checking accounts?
- If you made a deposit in your checking account of 3 dimes, 5 quarters, and 4 one-dollar bills, which should be the total of your deposit slip?
- Jonathan Fry opened a checking account and was handed a checkbook. The checkbook should contain a:
- Most financial experts agree that families should set aside at least how much of their disposable income each pay period?
- Lunch, medical bills, personal care items, and clothing are all examples of:
- The most common purpose for a net worth statement is:
- The IRS can audit your tax returns for a period of how many years, except in the case of fraud, where there is no time limit.
- When a person changes the terms of an offer, she or he has made a(n):
- The price, which may be in the form of money, a promise, or a performed act, is known as a(n):
- A contract that is missing one or more of the essential elements, and is not legally enforceable, is said to be:
- A person who creates or signs a promissory note is called the:
- Any person who is how old or older and who is not mentally deficient, is considered a competent party?
- A commonly used negotiable instrument is a(n):
- Which of the following items is the most liquid?
- A type of savings plan whereby you set aside money at a financial institution for a set period of time is a(n):
- Savings bonds may be purchased at:
- An IRA is no longer deductible when joint income is:
- Which of the following is not a major service of banks?
- Traveler’s checks come in all but which of the following amounts?
- A warranty must be in writing to provide any protection to the buyer of a product.
- When a person is a minor, the missing element to a valid contract is called offer and acceptance?
- A voidable contract is one that can become enforceable by acts or failure to act by the innocent party.
- When your assets are not greater than your liabilities, you are said to be solvent, which is a good credit position.
- When a check you have issued has been lost or stolen, you should request a stop payment order.
- To write a date on a check that is weeks or months in the future is to float a check.
- A TSA is a retirement plan for state and local government workers and school employees.
- Clearing a check means getting approval from a bank before depositing it.
- The type of government bond that pays interest semiannually is the Series HH savings bond.
- When you deposit money in a savings account, the financial institution pays you dividends for the use of the money.
- To prepare your personal budget, you should first list sources of money you expect to receive, known as income.
- A major reason for financial planning is to prevent careless spending.