WISE Test 2024 Study Questions & Answers | 100% Correct | Verified

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WISE Test 2024 Study Questions & Answers | 100% Correct | Verified If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the State Banking Commission. Federal De... posit Insurance Corporation. (FDIC). US Treasury Department. Federal Reserve Board. - ✔✔US Treasury Department Safe-deposit boxes are: Safe and can be accessed only by the owner of the box Available at all banks Convenient and accessible at any hour of the day or evening A free benefit for accounts with deposits starting at $50,000 - ✔✔Safe and can be accessed only by the owner of the box The financial institution where Ms. Sanchez has her checking account will continue to pay out money for the checks she writes as long as: The financial institution has sufficient funds There is enough money in Ms. Sanchez's account to cover the amount of the checks She uses checks from her checkbook She maintains a good record of deposits and handles her account responsibly - ✔✔There is enough money in Ms. Sanchez's account to cover the amount of the checks "The Fed" is short for: FBI The Federal Reserve System The Federal Deposit Insurance Corporation Congress - ✔✔The Federal Reserve SystemMargaret wants to store a valuable coin collection and important papers. Generally, consumers should: Hand valuables over to their attorney Rent a safe deposit box for their valuables Store valuables in locked drawer Store valuables in a cabinet at home - ✔✔Rent a safe deposit box for their valuables The phrase used for putting money into a savings account is: Making a deposit Verifying the account Balancing the account Making a withdrawal - ✔✔Making a deposit Banks use savings account deposits to: Improve the quality of life in low-income communities Give loans to consumers and businesses Make their services and products attractive for new depositors Pay for employee special projects - ✔✔Give loans to consumers and businesses [Show More]

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