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ABA CTFA Practice Test - Questions Answers
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Question 1
___________ is a type of insurance that protects funds on deposit against failure of the institution; can be insured by the FDIC and the NCUA.
Question 2
A checking account on which the financial institution pays interest; it have no legal minimum balance is called:
Question 3
A company can ensure the complete success of a rights offering by making use of a:
Question 4
The market price of K-T-Lew Corporation's common stock is $60 per share, and each share gives its owner one subscription right. Four rights are required to purchase an additional share of common stock at the subscription price of $54 per share. If the common stock is currently selling 'rights-on,' the theoretical value of a right is closest to:
Question 5
Financial intermediaries :
Question 6
You are considering borrowing $10,000 for 3 years at an annual interest rate of 6%. The loan agreement calls for 3 equal payments, to be paid at the end of each of the next 3 years. (Payments include both principal and interest.) The annual payment that will fully pay off (amortize) the loan is closest to:
Question 7
You can use to roughly estimate how many years a given sum of money must earn at a given compound annual interest rate in order to double that initial amount.
Question 8
Loan disclosure statement is:
Question 9
In a typical loan amortization schedule, the dollar amount of interest paid each period.
Question 10
When n = 1, this interest factor equals one for any positive rate of interest.
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