| A | B |
|---|
| Required to start a bank? | charter |
| An insurance company is an example of what? | a non deposit-type financial institution. |
| Who determines the interest rates banks charge for loans? | Federal Reserve |
| The profits of a mutual savings are shared with | its depositors |
| These are helpful when a person borrows to buy a home? | mortgage companies |
| Charges higher fees than most other financial instiutions? | pawnshop |
| The amount paid for the use of money. | interest |
| What allows for safe keeping | safe-deposit boxes |
| Manages money and property for people? | trust company |
| The main purpose of this is to protect a depostitor's money in case of bank failure? | FDIC |
| What is an example of a deposit-type financial institution? | credit union |
| The widest range of financial services is offered by who? | commercial bank |
| A credit union differs from other financial insitutions in that it...? | is organized as a not-for-profit organization |
| The main purpose of a consumer finance company is to...? | make loans for durable goods |
| A check-cashing outlet is commonly used by...? | people who do not have a bank account |
| Automatic Teller Machines (ATM's) do what? | provide automatic teller service quickly and easily |
| The items most likely to be stored in a safe-deposit box are...? | bond and stock certificates |
| Glenda Hopewell has set aside money for her children's college education. What financial service will manage Glenda's investments on her behalf? | a trust |
| The main purpose of the Federal Reserve System is to...? | supervise and regulate member banks |
| Money that financial institutions lend to others does what? | creates more jobs |
| Traditionally, who specialized in savings accounts and making loans for home mortgages, but in recent years these institutions have changed to savings banks? | savings and loan association |
| Who is a financial institution owned by the depositors, to whom the profits go? | mutual savings bank |
| What is the name of a system through which funds are moved electronically from one account to another and from one bank to another ..? | electronic funds transfer |
| What are savings that are put to work to earn more money? | Investments |
| What organization was created by the federal government to supervise and regulate member banks so they serve the public efficiently? | Federal Reserve System (Fed.) |
