Certified Financial Advisor

Card Set Information

Author:
jdbabe7
ID:
223509
Filename:
Certified Financial Advisor
Updated:
2013-06-12 00:38:56
Tags:
Banking services
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Description:
Analyse factors that affect selection and use of financial services Compare types of financial institutions Compare costs and benefits of various savings plans Compare cost and benefits of different chequing accounts
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  1. What are some financial services for short term needs?
    • Daily purchases
    • Living expense payments
    • Emergency Funding
  2. What are some financial services for long term needs?
    • Major purchases
    • Long term financial security
  3. What are the four main categories of financial services that financial institutions offer?
    • Savings
    • Payment Services
    • Borrowing 
    • Other Financial Services
  4. What is a trust?
    A trust is a legal agreement that provides for the management and control of assets by one party for the benefit of another
  5. What are some examples of some deposit type institutions?
    • Commercial banks
    • Savings and loan associates
    • Mutual savings banks
    • Credit Unions
  6. What are some examples of non deposit institutions?
    • Life Insurance Companies
    • Investment companies
    • Finance companies
    • Pawnshops
    • Cheque cashing outlets
  7. What is a money market account?
    A savings account that requires a minimum balance and earns interest based on market interest rates

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