Question

The main advantage banking services offer is A. your name on a check. B. credit cards. C. payday loans. D. ease of financial management.

Answer 1

A: They have to do this, but any printer could do it for you. A is not the answer.

B: Actually I don't think banks should be in the credit card business. There is too much risk. They are I know.

C: Banks don't do payday loans unless the person infrequently makes them, has a good credit rating and intends to pay it back very shortly. Under these conditions, C is not the answer.

D: I would pick D, but B is a possible answer. Bank statements are up to date and accurate mostly done by computers. If D is not right then choose B.

Answer 2

Answer:

D) ease of financial management.

Explanation:

Imagine that you have saved $20,000 and banks do not exist. What do you do with your money? You can hide it somewhere or decide to spend it all. If you think it is a good idea to loan to someone else and earn interest, you will need to find a reliable someone that will effectively pay you interests and return the money eventually. Or if you need to borrow money, you would have to go around asking all your friends and relatives if they can lend you some. Life without banks would really be complicated.

Banks make your life simpler and they help you manage your finances.