Understanding Savings Goals and Accounts

Understanding Savings Goals and Accounts

Assessment

Flashcard

Business

11th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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17 questions

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1.

FLASHCARD QUESTION

Front

Which of the following is NOT an example of a long-term savings goal? home ownership, college education, retirement, automobile purchase

Back

automobile purchase

2.

FLASHCARD QUESTION

Front

Which of the following items is the most liquid? home, regular savings, certificate of deposit, automobile

Back

regular savings

3.

FLASHCARD QUESTION

Front

A type of savings plan whereby you set aside money at a financial institution for a set period is a

Back

certificate of deposit

4.

FLASHCARD QUESTION

Front

Which of the following is NOT a benefit of direct deposit: your money is available in your account faster, you do not have to make a special trip to the bank, you can have part of all of your deposit put into your savings account, your money earns more interest than in any other type of savings plan?

Back

your money earns more interest than in any other type of savings plan

5.

FLASHCARD QUESTION

Front

Which of the following do banks usually offer: ATMs, numerous locations, drive-up windows?

Back

all of these

6.

FLASHCARD QUESTION

Front

The FDIC insures a depositor's money up to

Back

250000

7.

FLASHCARD QUESTION

Front

Of the following items, which pays the highest total interest when deposits are withdrawn at irregular times: compounded monthly, compounded quarterly, compounded daily, compounded yearly?

Back

compounded daily

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