Under the Interagency Statement When a Bank Recommends or Sells

question 195

Multiple Choice

Under the interagency statement when a bank recommends or sells non-deposit investment product it should inform the customer that the product is:

• A) Having high interest rate
• B) Not insured by FDIC
• C) Not a deposit or other obligation of, or guaranteed by the depository institution
• D) Only B&C

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Definitions:

Jack-of-all-trades

An individual skilled in many different areas, capable of performing competently in a variety of tasks or professions.

Net Exports

The difference between a country's total value of exports and total value of imports. If exports exceed imports, net exports are positive; if imports exceed exports, net exports are negative.

Exports

Goods or services produced in one country and sold to buyers in another, contributing to a country's total economic output.

Imports

Goods or services that are brought into a country from abroad for sale.