W!SE Personal Finance Review

Which account is most liquid?

• Savings
• CD
• Checking
• Traditional IRA

If you deposit $10,000 or more in a bank account, the bank must notify the

• US Treasury
• FDIC
• State Banking Commission
• Federal Reserve

Which typically pays the highest rate of interest?

• Savings
• CD
• Money Market Account
• Common stock

Payroll taxes include deductions for Social Security and Medicare.

• True
• False

Which account is least liquid?

• Savings
• Checking
• Money Market Account
• CD

Which of these financial institutions is not for profit & is owned by members?

• Commercial bank
• Savings & Loan Association
• Credit Union
• Investment Club

Which of these is most liquid?

• Corporate bond
• Money Market Account
• CD
• Stock

Income tax is paid only on income earned through your job.

• True
• False

Traveler's Checks

• are equivalent to credit cards
• are free at most banks
• function like cash but are easily replaced if lost
• are FDIC-insured

Which of these would be considered an employee benefit?

• Monthly salary
• Travel opportunities
• Walking distance from home
• Paid sick leave