Certificate of deposit cd - Study guides, Class notes & Summaries

Certificate of Deposit (CD) - A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate, and can be issued in any denomination. CDs are generally issued by commercial banks and are insured by the FDIC. The term of a CD generally ranges from one month to five years. Bank - A financial institution licensed as a receiver of deposits. There are two types of banks: commercial/retail banks and investment banks. In most countries, b...

If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the - Answer- A: US Treasury Department. In order to track large deposits, the federal government requires that deposits of $10,000 or more be reported to the Treasury Department. Banks use savings account deposits to: - Answer- C: Give loans to consumers and businesses. The basic functions of banks and credit unions are to be an intermediary between savers and borrowers. Which financial product may pa...

If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the Ans: A: US Treasury Department. In order to track large deposits, the federal government requires that deposits of $10,000 or more be reported to the Treasury Department. Banks use savings account deposits to: Ans: C: Give loans to consumers and businesses. The basic functions of banks and credit unions are to be an intermediary between savers and borrowers. Which financial product may pay a divi...

401k -:- Qualified plan for employees to make contributions on a post-tax or pretax basis with possible employer contributions and tax-deferred earnings. 403(b) -:- Retirement plan for nonprofit organizations 529 Plans -:- Tax-advantaged savings plans like the Utah Educational Savings Plan (UESP) for higher education costs. Advertising -:- Calling public attention to desirable qualities to create a desire to buy or do business. 2 | P a g e | G r a d e A + | 2 0 2 4 / 2 0 2 5 ...

Wise Financial Literacy Practice Test If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the A: US Treasury Department. In order to track large deposits, the federal government requires that deposits of $10,000 or more be reported to the Treasury Department. Banks use savings account deposits to: C: Give loans to consumers and businesses. The basic functions of banks and credit unions are to be an intermediary between savers and borrowers. Which...

401K -:- A qualified plan established by employers to which eligibl e employees may make salary deferral (salary reduction) contributions on a post-tax and/or pretax basis. Employers offering a 401(k) plan may make matching or non-elective contributions to the plan on behalf of eligible employees and may also add a profit-sharing feature to the plan. Earnings accrue on a tax-deferred basis. Advertising -:- To call public attention to, especially by pointing out desirable qualiti...

Comprehensive Module 1: Final Exam Questions & Answers-1. Bob uses the cash method of accounting. During the tax year (calendar year), he had the following income and expenses: • Interest on a savings account (credited to his account on January 2 of next year) $ 68 • Dividend received from Virginia Credit Union $814 • Interest received on a 5-year certificate of deposit (left in CD account to compound) • Penalty on the early withdrawal of the 5-year certificate of depo...

State Farm Acronyms Question and answers 2024/2025 verified to passAAL - correct answer Agency Administrative Leader AAS - correct answer Agent Advertising System ABS - correct answer Agent Business System ADA - correct answer Agent's Draft Authority AIP - correct answer Auto Insurance Plan RMP - correct answer Residual Market Plan AMS - correct answer Account Management System AOC - correct answer Agent Office Catalogue APA - correct answer Automated P...

Annual Percentage Rate (APR) The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents the actual yearly cost of funds over the term of a loan. This includes any fees or additional costs associated with the transaction. Bank A financial institution licensed as a receiver of deposits. There are two types of banks: commercial/retail banks and investment banks. In most countries, banks are regulated by the national gover...

AAMS Module 1-10 Quizzes - Questions and Answers (Complete Solutions) What are the major steps in the asset management process? 1. gather data 2. establish goals 3. analyze information 4. make and implement recommendations 5. monitor Stefan's business plan includes the following goal: "I will contact 50 prospective clients and document this activity in the CRM for tracking purposes." Which primary element of a good goal is missing? This goal is not time-framed. The acronym to remember for g...