Banking
What is investment banking?
What is the Fed?
It is the central bank of the United States.
What are the functions of money?
Money serves as a medium of exchange, as a store of value, and as a unit of account.
What are the characteristics of money?
The characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability.
In Peter Pan, Captain Hook had a hook on which one of his hands?
Left hand
What is Central Banking?
An institution that that manages a state, or countries currency, money supply, and interest rates
What does the Fed do?
It provides the nation with a safer, more flexible, and more stable monetary and financial system.
What is a medium of exchange?
Money's most important function is as a medium of exchange to facilitate transactions.
What is Representative money?
It is a certificate or token that can be exchanged for the underlying commodity.
When does Mary Poppins say she will leave the Banks’ house?
When the Wind Changes
What is Private Banking?
An investment, and other financial services provided by banks to high-net-worth individuals with high levels of income or sizable assets
What is a central bank?
A national bank that provides financial and banking services for its country's government
What is the barter system?
A system of exchange where participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money.
What is fiat money?
It is money that does not have intrinsic value and does not represent an asset in a vault somewhere.
In the Lion King, where does Mufasa and his family live?
Pride Rock
What is a secured loan?
A loan in which the borrower pledges some asset such as a car, property
How does the Fed manipulate interest rates?
They move the federal funds rate up and down.
What is a store of value?
A store of value is the function of an asset that can be saved, retrieved and exchanged at a later time, and be predictably useful when retrieved. More generally, a store of value is anything that retains purchasing power into the future.
Why does money have to be durable?
So it can last over time
In Beauty and the Beast, how many eggs does Gaston eat for breakfast?
5 Dozen
What is a mortgage?
A legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt