287. Barry has $22,000 in a savings account with the Scott Credit Union. While economic conditions have caused all financial institutions to struggle, Barry feels that his money is safe due to the fact that the credit union's accounts are protected by the: A. Federal Deposit Insurance Corporation (FDIC).B. Credit Union Insurance Fund (CUIF).C. National Alliance of Credit Union Underwriters (NACUU).D. National Credit Union Administration (NCUA).20-50
Chapter 20 - Money, Financial Institutions, and the Federal Reserve 288. Alfredo banks at a commercial bank that advertises its membership in the FDIC. This means that: 289. After Bill and Jillian deposited nearly $30,000 in a savings account at Farmers National Bank, the bank failed and filed for bankruptcy. Because the Farmers National Bank participates in the FDIC, Bill and Jillian: 290. Xavier deposited $75,000 in various individual accounts at his local credit union. He andhis wife also have a joint savings account worth $34,500. The total amount for which the National Credit Union Administration (NCUA) would insure these deposits would be: 291. For banks, the check processing activities: A. still represent the cheapest way to permit customers use of their funds.B. are expensive and time consuming.C. are not trustworthy and reliable.D. are extremely efficient and have deterred customers from using other ways to access their funds. 20-51
Chapter 20 - Money, Financial Institutions, and the Federal Reserve 292. Which of the following accurately presents a major difference between Internet banks and traditional banks?
You've reached the end of your free preview.
Want to read all 181 pages?