Bank Account Types

What type of bank account is typically used for everyday transactions and does not usually earn interest?

• Savings Account

• Checking Account

• Money Market Account

• Certificate of Deposit (CD)

Which type of account generally offers higher interest rates but may have limited access to funds?

• Checking Account

• Savings Account

• Money Market Account

• Certificate of Deposit (CD)

What type of account combines features of both savings and checking accounts, often requiring a higher minimum balance?

• Checking Account

• Savings Account

• Money Market Account

• Certificate of Deposit (CD)

Which account is designed specifically for saving money and typically earns interest?

• Checking Account

• Savings Account

• Money Market Account

• Certificate of Deposit (CD)

What type of account is often used by businesses to manage their cash flow and daily transactions?

• Business Checking Account

• Personal Checking Account

• Money Market Account

• Certificate of Deposit (CD)

Which type of account is intended for long-term savings and usually has a fixed interest rate and maturity date?

• Savings Account

• Checking Account

• Money Market Account

• Certificate of Deposit (CD)

What type of account allows for limited transactions per month and typically offers higher interest rates than a regular savings account?

• Checking Account

• Savings Account

• Money Market Account

• Certificate of Deposit (CD)

Which account is specifically designed for minors to help them learn about saving and managing money?

• Checking Account

• Custodial Account

• Money Market Account

• Certificate of Deposit (CD)

What type of account is used to save for retirement and often offers tax advantages?

• Checking Account

• Savings Account

• Individual Retirement Account (IRA)

• Certificate of Deposit (CD)

Which type of account is typically used for short-term savings and offers easy access to funds?

• Checking Account

• Savings Account

• Money Market Account

• Certificate of Deposit (CD)