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savings account

Authored by Fritz Mathurin

Other, Mathematics

11th Grade

Used 6+ times

savings account
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40 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is a savings accounts?

A savings account is a basic type of financial product that allows you to deposit your money and typically earn a modest amount of interest

A savings account is a separate bank account for your business that is strictly used for payroll

A savings account is a deposit account held at a financial institution that allows withdrawals and deposits.

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

With savings accounts can you use the money using a debit card?

TRUE

FALSE

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Can you lose money in a savings account?

No, You’ll never lose the money you have saved

it is up to the FDIC

If you stop using the card for a while, you lose the money

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

It's a Savings accounts advantage ...

Savings accounts are generally interest-bearing, meaning you will earn interest on the money you save in the account.

savings account let you make up to six withdrawals or transfers per statement cycle.

You don’t need a large amount of money to open a savings account, and you also have easy access to your money

All the answers are correct

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

in savings accounts there are some limits when making a transaction, this statement is:

TRUE

FALSE

I DON'T KNOW

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Features about the saving accounts:

You can use a debit card

Have online bill pay

Earn interest

All ATM withdrawal and online transfer are unlimited

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

When you open a savings account at a bank or credit union and deposit money into the account, the bank then pays you interest on your balance?

TRUE

FALSE

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