Resource Management Final Spring 2023

1. A savings account that pays interest every three months is said to have a _____ interest period.

• quarterly
• monthly
• semiannual
• daily

2. A savings account that pays interest every month is said to have a _____ interest period.

• quarterly
• monthly
• semiannual
• daily

3. Catherine is buying a new TV and is looking for the best loan to pay for her purchase. What loan should she choose?

• Loan with the lowest APR
• Loan with the highest APY
• Loan with the highest APR
• Loan with the lowest APY

4. ABC Bank is getting ready to offer special interest rates for its student savings accounts. How should the bank advertise its rates in order to encourage people to save money with ABC Bank?

• Account with the lowest APR
• Account with the highest APY
• Account with the highest APR
• Account with the lowest APY

5. Cassidy is buying a house and is looking for the best home loan to pay for her purchase. What loan should she choose?

• Loan with the lowest APR
• Loan with the highest APY
• Loan with the highest APR
• Loan with the lowest APY

6. Which of these options for saving money typically offers the most liquidity?

• Certificate of deposit
• Money market account
• Basic savings account
• Savings bond

7.. Which of these options for saving money typically offers the least liquidity?

• Certificate of deposit
• Money market account
• Basic savings account
• Savings bond

8. Which of these options for saving money offers the most liquidity?

• Piggy bank
• Money market account
• Basic savings account
• Savings bond

9. Which of the following will typically offer the lowest interest rate?

• Savings bond
• Certificate of deposit
• Money market savings
• Basic savings

10. The value of a bond that is paid back at maturity is known as _____.

• coupon
• maturity value
• interest
• face value