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Exam 4: Managing Your Cash and Savings

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Question 51

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INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -[Both Treasury bills and Series EE savings bonds | Only Treasury bills] are bought at a discount.

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Question 52

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When an S & L is a mutual association,it means that it is owned by the

A) borrowers.
B) creditors.
C) depositors.
D) management.
E) local government.

F) B) and E)
G) A) and E)

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Question 53

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INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -Interest earned on your [US EE savings bonds | municipal bond holdings] would be free of federal income taxes.

The minimum denomination of T-bills you can buy is

Liquid assets are held in order to

An Asset Management Account provides a

Historically,the primary purpose of savings and loan associations was to

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -Liquid assets would include your savings account and your [money market deposit account | stock mutual fund].

You put $1,000 into a 12-month certificate of deposit.After seven months,you really need the money.The bank will let you have it before 12 months,but you will pay a penalty.

Passbook accounts are better than checking accounts if you want to accumulate money for future expenditures.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -Joe and Mary have a tenants in common savings account.When Joe dies,his portion of the account [will | will not] automatically go to Mary.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -[Anyone | Only those with an account at the bank] can purchase cashiers' checks.

Maximizing the use of "float" is one advantage of using on-line banking services.

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -[Both the depositor and writer | Only the writer] of a "bad" check will likely be charged a fee by their/his banks/bank.

Which of the following accounts has special tax advantages under certain conditions when used to fund qualified college education expenses?

Compared to other depository financial institutions,credit unions

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.Select A for the first item,B for the second item,and C if neither item will correctly complete the statement. -You would expect to find an asset management account at a [commercial bank | brokerage firm].

A ____ is an interest-bearing checking account.

Savings banks are mainly found in the northeastern U.S.

Convenience and improved record keeping are two advantages sited for on-line bill payment.