Understanding Bank Accounts and Services

What is a savings account primarily used for?

• Making daily transactions

• Earning interest on deposited money

• Taking out loans

• Investing in stocks

Tags

DOK Level 1: Recall

Which type of bank account is typically used for everyday expenses and transactions?

• Savings account

• Checking account

• Certificate of deposit

• Money market account

Tags

DOK Level 1: Recall

What service do banks provide that allows customers to store valuables securely?

• Online banking

• Safe deposit boxes

• Loan services

• Credit card issuance

Tags

DOK Level 1: Recall

Which banking service allows customers to manage their accounts via the internet?

• Mobile banking

• Online banking

• ATM services

• Branch banking

Tags

DOK Level 1: Recall

What is the primary purpose of a certificate of deposit (CD)?

• To provide a high-interest savings option with limited access

• To allow unlimited withdrawals and deposits

• To offer a line of credit

• To facilitate daily transactions

Tags

DOK Level 1: Recall