Ch 2 Quiz: Checking & Savings Accounts

Putting money aside in a ____________ is for short-term goals and emergencies.

How quickly or easily you can withdraw your money is known as _________________________.

A __________________________________ is used for every day purchases.

A/an ________________ is a type of retirement plan not offered through an employer.

If you opt in to ____________________________, the bank will cover the cost of a purchase if you are overdrawn, but they will charge you an overdraft fee.

When you put your money in a ________________ you agree to not withdraw your money for a fixed amount of time.

You will be charged a/an ___________________if you use the ATM of a bank other than your own.

The amount of time your money must remain in a CD is know as the ____________.

____________________ has a higher risk and therefore a higher return than putting money in a savings account.

When a paycheck is put directly into an account, eliminating the need for a paper paycheck, this is known as _________________.