quiz 4,5
commercial bank is covered by FDIC insurance while a money market mutual fund is not
true
which of the following statements is false?
Credit union accounts have no protection comparable to the FDIC that protects commercial bank deposits
when interest rates are rising, a person will be best served by
short term, saving instruments, example savings account
boy, high fees, for loans a person should not borrow from a
payday loan lender or pawnshop
The Federal deposit insurance coprporation (FDIC) provides deposit insurance for
commercial banks and savings and loan associations
consumer credit
dates back to colonial times
mortgage loans, auto loans and installment loans for purchasing furniture or appliances are examples of
closed end credit
maximum amount of credit you are allowed by a creditor is called a
line of credit
A bank that is looking at your past payment records on your loans is most likely examining which aspect of the five "C's" of lending
character
valuable asset plus to assure loan payments and subject to seizure upon default is called a
collateral