Quiz 8.3

A savings account is a____________place to store your cash

• safe

• bad

• risky

• questionable

A saving account is for

• investing

• regular spending

• long-term saving goals

• entertainment spending

Your emergency fund should go into your checking account, NOT a money market account.

• True

• False

A debit card, ATM access, payroll deposits, and checks are features of

• a money market account

• a savings account

• a checking account

• online banking

With a certificate of deposit (CD) you have to pay a penalty for

• withdrawing you money early

• deposits

• creating a savings account

• using an ATM

Avoid any bank service that leads to

• multiple accounts

• savings

• debt

• gaining interest

Liquidity is

• how quickly you can access money

• a great way to find the right service

• when you deposit gold or silver

• how money flows into the bank

A debit card linked to your checking account is a good option for regular spending

• True

• False