Question 1

An advantage credit unions may have over other financial institutions is:

Accepted Answer

A)  interest-bearing checking accounts.
B)  lower loan rates.
C)  flexible-rate loans.
D)  credit cards.
E)  variable-rate savings plans.F) C) and E)
G) A) and C)

Question 2

The Federal Deposit Insurance Corporation insures deposits up to $250,000 per person per financial institution.Suzanne has $520,000 in a joint account with her husband,Ted.How much is not covered by FDIC insurance?

Accepted Answer

A)  $20,000
B)  $260,000
C)  $520,000
D)  $250,000
E)  $0F) A) and D)
G) D) and E)

Question 3

A restrictive endorsement on a check to be deposited consists of the words "for deposit only."

Accepted Answer

A) True 
 B)False

Exam 5: Financial Services: Savings Plans and Payment Accounts

An advantage credit unions may have over other financial institutions is:

Correct Answer
verified

The Federal Deposit Insurance Corporation insures deposits up to $250,000 per person per financial institution.Suzanne has $520,000 in a joint account with her husband,Ted.How much is not covered by FDIC insurance?

Correct Answer
verified

A restrictive endorsement on a check to be deposited consists of the words "for deposit only."

Correct Answer
verified

Exam 5: Financial Services: Savings Plans and Payment Accounts

An advantage credit unions may have over other financial institutions is:

Correct AnswerverifiedShow Answer

The Federal Deposit Insurance Corporation insures deposits up to $250,000 per person per financial institution.Suzanne has $520,000 in a joint account with her husband,Ted.How much is not covered by FDIC insurance?

Correct AnswerverifiedShow Answer

A restrictive endorsement on a check to be deposited consists of the words "for deposit only."

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified