Savings and Investments Quiz 1

What is a savings account?

• A place to borrow money

• A place to pay bills

• A place to save money

• A place to invest in stocks

What can you do with a fixed deposit account?

• Get unlimited interest

• Use it for daily expenses

• Save money for a certain time

• Withdraw money anytime

What is a current account used for?

• Buying shares

• Investing in unit trusts

• Saving for a long time

• Personal or business purposes

What happens if you withdraw from a fixed deposit before maturity?

• You get extra interest

• You get a bonus

• You lose some interest

• You can withdraw anytime

What is one feature of a current account?

• No service charges

• Can use cheques

• Always pays high interest

• Only for saving money

What is a unit trust?

• A current account feature

• A type of savings account

• A way to collect money for investment

• A fixed deposit account