Term
| which of the following does not descirbe a bank function? safe guard money, transfer money,print money, or exchange money |
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Definition
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Term
| what is a medium of exchange? |
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Definition
| an agreed upon system for measuring value of goods and services |
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Term
| what type of financialinstitution obtains funds from the public and uses them to finance their business? |
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Definition
| depository intermediaries |
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Term
| the us is divided into__fed reserve districts, w/a central fed reserve bank in each district. |
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Definition
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Term
| a user-owned,not-for-profit,financial institution called a? |
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Definition
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Term
| the spanish dollar called the___was the most popular forgeign money used during the early colonial years. |
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Definition
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Term
| why did the u.s. national banks fail? |
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Definition
| lack of political support from those who thought the banks were too powerful |
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Term
| what yr did the u.s. gov't begin to issue paper currency? |
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Definition
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Term
| which political figure opposed the creation of a bank of the us? |
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Definition
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Term
| which of the following is a savings instument that has a fixed intrest rate and fixed maturity date?(time deposit, certificate of deposit, savings bond, or all of the above) |
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Definition
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Term
| what yr was the 1st bank of the us chartered in? |
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Definition
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Term
| the formula for simple interest is ? |
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Definition
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Term
| what is the agency that guarentees bank deposits? |
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Definition
| federal deposit insurance corporation(fdic) |
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Term
| what does the P in the simple intrest and future value formula stand for? |
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Definition
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Term
| a collective rise in money supply,incomes,and prices are known as? |
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Definition
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Term
| what are the 4 organizational components of the fed reserve system? |
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Definition
| member banks,district reserve banks,board of governors, chairmen |
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Term
| which of the following is NOT one of the four functions of the fed reserve?(it serves as govt's bank;it supervises banks;it prints and regulates money;its a bank for other banks) |
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Definition
| it prints and regulates money |
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Term
| what is money deemed legal tender by the govt called? |
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Definition
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Term
| which of the following is NOT one of the ways the FED influences mmoney supply?(sets reserve requirements;changes discount rates;prints new currency;buys and sells govt securities |
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Definition
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Term
| whats the percentage of funds that a bank is required tohold is known as? |
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Definition
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Term
| a bank is required to maintain a 14% resrve requirment and has deposits $54,000. what amount must b kept on resrve? |
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Definition
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Term
| which of the following finacial institutions primary funct is to lend $$$ for home buying? |
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Definition
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Term
| whats the fed's process of buying and selling govt securities is known as? |
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Definition
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Term
| the monetary policy of the fed reserve system refers to ? |
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Definition
| maintaining an appropriate amount of $$in circulation |
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Term
| the fedearl law that is designed to promote the informed use of credit and encourage consumers to understand the cost of credit is the ? |
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Definition
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Term
| whats the measure of how quickly things mays b converted to something of value like cash |
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Definition
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Term
| whats the amount of interest charged for interbank loans? |
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Definition
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Term
| what actually backs the currency of the us? |
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Definition
| treasurey securities and faith in the us govt |
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Term
| the even distribution of a number of stock shares into a larger nmbr that does not change the total mrkt value of your stock is known as? |
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Definition
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Term
| whennew deposits go out to customers as loans and create more deposits, thus expanding the amnt of $$$ in circulation this is known as? |
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Definition
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Term
| how many compounding periods are there in a 10 yr investmnt that compounds quarterky? |
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Definition
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Term
| the amount of the original investment is called? |
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Definition
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Term
| which of the following is the most liquid cash management tool? |
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Definition
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Term
| when evaluating a persons creditworthieness , what is not considered a factor? |
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Definition
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Term
| which of the following is an example of a cash managmnt tool? |
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Definition
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Term
| to increase the money supply, the fed would? |
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Definition
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Term
| what is an example of an acount that uses tiered interest rates? |
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Definition
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Term
| what 3 factors affect the future value of $$$? |
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Definition
| interest rate,time,principal |
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Term
| the formula for future vale is? |
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Definition
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Term
| whats the effective rate of interest when compounding is factored is known as? |
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Definition
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Term
| under the bail-out plan known as the Emergency Economic Stabilization Act of 2008, what is the new amount the fdic will insure a bank account for |
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Definition
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Term
| what is a time deposit that is heldfor or mature at a specified time is known as? |
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Definition
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Term
| which of the following is not a common type of checking account? |
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Definition
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Term
| account that has 2 or more owners, each whom has equal and independent access to it is known as ? |
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Definition
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Term
| account that allows transactions to occur at any time and in any nmbr is known as ? |
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Definition
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Term
| when inestors are optimistic about an economy,whats the mrkt condition? |
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Definition
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Term
| when a comp. first issues shares of stock, its refered to as the ___ market |
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Definition
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Term
| why do companies issue stock? |
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Definition
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Term
| an initial public offering refers to___? |
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Definition
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Term
| what info is included in an individual's credit history? |
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Definition
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Term
| what is the unity of a comp. that entitlesthe owner to voting priviledges? |
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Definition
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Term
| which of the following is an example of an over the counter market? |
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Definition
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Term
| a credit report could b characterized as? |
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Definition
| a record of a consumers credit history |
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Term
| ___occurs when investors are pessimistic about the economy |
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Definition
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Term
| if u put$200 in a savings accoount that paid 6% simple intrest each yr, how much intrest would u earn in 5 yrs? |
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Definition
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Term
| steff borrows $9000 to buy a used car and is charged 4.5%. if the term of her borrowing is 5 yrs how much interest does she paycin total? |
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Definition
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Term
| an investmnt of $1200 earns 7% intrwst and compounds anually, whats the total amnt after 8 yrs? |
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Definition
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Term
| how much intrest does a $1000 investment @ 5.6% intrest over 18 yrs , compounded semi-anually? |
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Definition
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Term
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Definition
| an agreemnt in which a borrower recieves somthing of value in exchange for a promise to repay the lender @ a later date. |
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Term
| which of the 4 factors of consumer credit is considered most important? |
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Definition
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Term
| an agreement in which a borrower recieves something of value in exchange for a promise to repay the lender @ a later date? |
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Definition
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Term
| whats the rate the fed charges for loans to member banks? |
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Definition
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Term
| which finacial institution offers the widest range of services to both individuals and business customers? |
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Definition
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Term
| amount charged for the use of borrowed $$$ is called? |
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Definition
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Term
| which of the following is a non-deposit financial institution? |
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Definition
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Term
| way for consumer to get negative credit rating? |
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Definition
| having a large nmbr of people checking your credit |
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