Exploring Types of Bank Accounts

The video tutorial covers two main topics: skateboarding and banking. It begins with a discussion on skateboarding skills, comparing Barry and Fred's abilities and the types of skateboards they use. The conversation then shifts to banking, where Susie explains different types of bank accounts, including savings accounts, checking accounts, and certificates of deposit (CDs). The video concludes with an overview of various payment methods, highlighting their advantages and disadvantages.

Who is considered better at skateboarding?

• Penny

• Barry

• Fred

• Susie

What type of skateboard is more expensive due to its design?

• Flat deck board

• Standard board

• Longboard

• Curved deck board

Which type of skateboard is typically used for cruising?

• Downhill board

• Trick board

• Freestyle board

• Longboard

What does CD stand for in banking terms?

• Credit Division

• Cash Deposit

• Certificate of Deposit

• Credit Deposit

Why might someone choose a CD over a regular savings account?

• Higher interest rates for fixed terms

• Unlimited withdrawals

• No interest earnings

• Immediate access to funds

What is a primary advantage of a checking account?

• Locks money for a fixed period

• Convenient for daily expenses and bill payments

• Used for saving money long-term

• Pays high interest

What is not a feature of a savings account?

• Good for getting started with saving

• No minimum deposit limit

• Used for daily expenses

• Pays interest

What must you do with a CD before accessing your money?

• Convert it to cash immediately

• Use it daily

• Deposit more funds

• Wait until it matures

What is a disadvantage of using cash for large payments?

• It is less secure

• It earns interest

• It is more convenient

• It is digital

What is a benefit of e-banking?

• Allows for home transactions

• Offers less control over finances

• Higher fees

• Requires visiting a bank