Introduction to Business

Section 2: Types of Financial Institutions

Self-Checks

1
Commercial banks are often called ______ banks.
A)charter
B)independent
C)full-service
D)savings
2
Customers of a commercial bank include ______ .
A)businesses and individuals
B)individuals
C)businesses
D)banks
3
In the 1980s ______ of savings and loans failed.
A)10 percent
B)30 percent
C)20 percent
D)40 percent
4
Not-for-profit banks set up by organizations for their customers to use are called ______ .
A)check-cashing services
B)finance companies
C)credit unions
D)savings and loans
5
Credit union customers are called ______ .
A)associates
B)creditors
C)clients
D)members
6
The Federal Reserve System has ______ districts.
A)seven
B)twenty five
C)twelve
D)fifty
7
Printing and maintaining U.S. paper currency is the responsibility of the ______ .
A)commercial banks
B)Federal Trace Commission
C)Federal Reserve
D)U.S. Postal Service
8
Funds set aside for emergencies, such as a rush withdrawal, are called ______ .
A)cash on hand
B)reserves
C)minimum balances
D)safe deposits
9
Interest rates that finance companies charge for short-term loans are ______ interest rates charged by commercial banks.
A)comparable to
B)lower than
C)higher than
D)one-percent higher than
10
A young adult with a part-time job is likely to use a ______ to save money to buy a car.
A)brokerage firm
B)finance company
C)commercial bank
D)mortgage company
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