
Savings
Authored by John Robinson
Social Studies
12th Grade

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25 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Lucy has $50. She wants to start saving money, but also be able to access her money without penalty.
Which type of savings account should she open?
Traditional savings
Money Market Account
Certificate of Deposit (CD)
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Katie has an $1000. She wants to save this money and is fairly certain she won't need it for anything for at least 5 years.
Which type of savings account should she open?
Traditional savings
Money Market Account
Certificate of Deposit (CD)
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Brandy has $15,000. She wants to save this money, earn some good interest on it, but still have some access to it.
Which type of savings account should she open?
Traditional savings
Money Market Account
Certificate of Deposit (CD)
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
_____% of Americans have less than $1,000 saved for an emergency.
40
45
50
55
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
One effect of an increase in the amount of savings in an economy is —
an increase in consumer spending
a decrease in retirement investments
a decrease in the production of goods and services
an increase in financial resources for business investment
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the primary purpose of a savings account?
To earn interest on deposited funds
To provide loans to others
To invest in the stock market
To pay monthly bills
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is a benefit of having a savings account?
Unlimited withdrawals
High interest rates
Safety of funds
No minimum balance requirement
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