Places to put your money review [2025]
Flashcard
•
Education
•
12th Grade
•
Hard
Wayground Content
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29 questions
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1.
FLASHCARD QUESTION
Front
What is a 529 account used for?
Back
Education expenses like tuition, housing, meal plan
2.
FLASHCARD QUESTION
Front
To avoid paying a monthly bank account fee, you can use a student account which links to a ________ account.
Back
parent's
3.
FLASHCARD QUESTION
Front
Which of the following is a characteristic of a high-yield savings account (HYSA)?
Options:
Lower interest rates,
Interest rates that change depending on the Federal Reserve interest rate,
Available at physical bank branches,
No FDIC insurance coverage
Back
Interest rates that change depending on the Federal Reserve interest rate
4.
FLASHCARD QUESTION
Front
What is a debit card?
Back
A card that links to your checking account and uses your money to make purchases.
5.
FLASHCARD QUESTION
Front
A 529 account is primarily used for ______.
Back
Education expenses like tuition, housing, meal plan
6.
FLASHCARD QUESTION
Front
Which of the following is a way to avoid paying a monthly bank account fee?
- Maintain a minimum daily balance
- Use a credit card
- Withdraw cash frequently
- Close the account.
Back
Maintain a minimum daily balance
7.
FLASHCARD QUESTION
Front
What is the maximum amount guaranteed by the government under FDIC insurance if your bank fails (disregarding HYSA's)?
Back
$250,000
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