Introduction to Business

Section 2: Types of Saving Accounts

Self-Checks

1
Passbook account is another name for a _________ .
A)certificate of deposit
B)money market fund
C)money market deposit account
D)regular savings account
2
A savings account at a bank that allows customers to deposit or withdraw money at any time and to earn interest on the funds is called a _________ savings account
A)basic
B)regular
C)ordinary
D)simple
3
A bank savings account that requires you to deposit a specific amount of money in an account for a set period of time is called a _________ (CD).
A)certain deposit
B)consent of deposit
C)certificate of deposit
D)controlled deposit
4
Brokerage firms offer a special type of savings account called a _________ .
A)broker fund
B)money market fund
C)mixed asset fund
D)mutual fund
5
A money market deposit account, offered by banks, savings and loans, and credit unions, is similar to a _________ .
A)brokerage account
B)money market fund
C)passbook account
D)broker fund
6
The ability to quickly turn an investment into cash is called _________ .
A)fiduciary
B)liquidity
C)flexibility
D)stability
7
The Federal Deposit Insurance Corporation (FDIC) is a government agency that Insures _________ .
A)bank accounts
B)bank buildings
C)bank assets
D)bank employees
8
With savings and investing, the higher the risk, the _________ return.
A)higher the
B)lower the
C)higher the possibility of a higher
D)lower the possibility of a higher
9
The risk that the rate of inflation will increase more than the rate of interest on savings is called _________ .
A)fluctuation risk
B)inflation fluctuation
C)inflation
D)inflation risk
10
If you cash in a CD before the _________ , you will lose interest and you might have to pay a penalty.
A)end of the year
B)maturity date
C)expiration date
D)prime date
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