Banking

How old do you have to be to open a TFSA?

• 16+

• 21+

• 19+

• 18+

TRUE OR FALSE:

Taxes are paid after the withdrawal of money in an RRSP account

• True

• False

How much minimum money do GIC accounts require in order to open an account?

• $50

• $100

• $500

• $1500

Do you need to have a job to open a bank account?

• Yes

• No

What should you look for when choosing a bank?

• How this account will be used either for saying or making payments

• Charges and fees on the account

• How protected is the insurance of your deposits in case your financial institution fails

• All of the above

What is a chequing account?

• A great option for storing cash for short-term use and needs, and pays interest to you

• A place to store your daily spending money, and to make frequent deposits and withdrawals

• An association with TFSA

• A deposit account that pays interest based on current interest rates in the money market

What type of bank is typically used for personal banking?

• Commerical banks

• Retail banks

• Central banks

• Investment banks

What does GIC stand for?

• Graduated index certificate

• Guaranteed investment certificate

• General insurance company

• Government information center