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Worksheets5.02 Savings Tools Note Taking Guide
Total questions: 15
Worksheet time: 8mins
Which account is used for a fixed period of time and allows restricted access to the funds?
Checking Account
Savings Account
Money Market Deposit Account
Certificate of Deposit
Which account is effective for storing emergency funds?
Checking Account
Savings Account
Money Market Deposit Account
Certificate of Deposit
Which account must be held for a certain length of time (usually a couple of years)?
Checking Account
Savings Account
Money Market Deposit Account
Certificate of Deposit
Which account do you usually have to deposit a minimum amount to open the account (typically $1,000)?
Checking Account
Savings Account
Money Market Deposit Account
Certificate of Deposit
Which account is more liquid than other savings tools (except checking accounts)?
Checking Account
Savings Account
Money Market Deposit Account
Certificate of Deposit
Which account is do not earn interest, but if offered, rates are low?
Checking Account
Saving Account
Money Market Deposit Account
Certificate of Deposit
Savings tools - Accounts offered by ___________ assisting in savings.
Banks
Credit Unions
Depository Institutions
Two reasons why savings tools are ideal for storing emergency savings is because they are secure and _______.
Easy
Expensive
Liquid
Risky
It is important to understand features of savings tools to determine the savings tool ______________.
Most appropriate for avoiding a financial goal
Most appropriate for reaching a financial goal
