#1
Which of the following is a factor to consider when choosing a financial institution?
Proximity to your home
Quality of coffee served at the institution
Availability of free Wi-Fi
Interest rates and fees
#2
Which of the following is NOT a type of financial institution?
Credit Union
Investment Bank
Hedge Fund
Retail Store
#3
What does APR stand for in the context of loans and credit cards?
Annual Percentage Rate
Average Payment Ratio
Asset Protection Requirement
Accumulated Payment Return
#4
Which of the following is a benefit of using online banking services?
Limited access to account information
Convenience of accessing accounts from anywhere with internet
Higher fees for transactions
Limited security measures
#5
Which of the following factors is important to consider when choosing a checking account?
Interest rates on savings
Availability of investment options
Monthly fees and minimum balance requirements
Number of branches nationwide
#6
What does FDIC stand for in the context of banking?
Federal Deposit Investment Corporation
Financial Deposit Insurance Corporation
Federal Deposit Insurance Corporation
Fiscal Deposit Insurance Corporation
#7
Which of the following services might a credit union typically offer?
Issuing corporate bonds
Providing mortgage loans
Underwriting initial public offerings
Offering investment banking services
#8
What is one advantage of using a local community bank?
Higher interest rates on loans
Limited branch locations
Lower fees for services
Fewer options for financial products
#9
Which federal agency regulates national banks in the United States?
Securities and Exchange Commission (SEC)
Federal Reserve System (Fed)
Office of the Comptroller of the Currency (OCC)
Federal Deposit Insurance Corporation (FDIC)
#10
Which of the following is NOT typically considered a factor in credit scoring?
Payment history
Age of your accounts
Annual income
Favorite color
#11
What is the primary function of a brokerage firm?
Providing insurance policies
Managing retirement accounts
Executing trades in financial markets
Offering personal loans
#12
What is the primary purpose of the SWIFT network in the context of financial institutions?
To provide regulatory oversight
To facilitate international money transfers
To enforce monetary policies
To offer retail banking services
#13
In the context of financial institutions, what does AML typically refer to?
Automated Machine Learning
Anti-Money Laundering
Asset Management and Lending
Accounting and Management of Liabilities
#14
What is the primary function of an investment bank?
Issuing credit cards
Providing retail banking services
Facilitating mergers and acquisitions
Offering savings accounts
#15
Which of the following is a characteristic of a money market account?
High liquidity
Fixed interest rates
Long-term investment horizon
High-risk investments
#16
Which of the following is a characteristic of a 401(k) retirement account?
Contributions are made post-tax
Contributions are not subject to taxes
Contributions are limited to $1,000 annually
Contributions are not invested
#17
What does the term 'liquidity' refer to in finance?
The ability to convert assets into cash quickly without significant loss
The total value of assets
The level of risk associated with an investment
The return on investment