Which account type typically offers higher interest than a savings account but requires money to be left untouched for a fixed term?

QUIZS - Financial Literacy Test

Quiz
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Other
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10th Grade
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Easy
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Traditional Savings Account
Money Market Account
Certificate of Deposit (CD)
Checking Account
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a restaurant tip?
A discount on the bill
A customary extra cost beyond tax
A fee for service
A penalty for late payment
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does PMI stand for in the context of mortgages?
Personal Mortgage Insurance
Private Mortgage Insurance
Public Mortgage Insurance
Premium Mortgage Insurance
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a breach of contract imply?
One party fulfills all obligations
One party fails to fulfill obligations
Both parties agree to new terms
Contract is renewed
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a safer investment with a lower return?
Stocks
Commodities
Bonds
ETF/Mutual Funds
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a characteristic of payday lenders?
Low interest rates
High interest, often criticized for targeting vulnerable groups
Member-owned, offer better rates
For those with bank accounts
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the impact of a credit score?
Determines eligibility for government benefits
Affects ability to get loans
Influences car insurance rates
Sets the interest rate for savings accounts
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