Personal Finance Chapter 10 - Savings

10 Questions | Total Attempts: 141

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Personal Finance Quizzes & Trivia

Learn more about personal finance by taking this interesting trivia!


Questions and Answers
  • 1. 
    Mutual savings banks are common throughout the U.S.
    • A. 

      True

    • B. 

      False

  • 2. 
    Money market accounts are subject to early withdrawal penalties
    • A. 

      True

    • B. 

      False

  • 3. 
    A certificate of deposit earns a fixed interest rate for a specified length of time.
    • A. 

      True

    • B. 

      False

  • 4. 
    Credit unions do not provide insurance for their depositors' savings.
    • A. 

      True

    • B. 

      False

  • 5. 
    You may be charged a service fee if you make more than a maximum number of withdrawals from your regular savings account in one month or if your balance falls below a certain minimum.
    • A. 

      True

    • B. 

      False

  • 6. 
    Which of the following is not a short-term need?
    • A. 

      Unemployment

    • B. 

      Weekend Trip

    • C. 

      Retirement

    • D. 

      Automobile Repair

  • 7. 
    A savings account at a credit union is called
    • A. 

      Money Market Account

    • B. 

      Savings Club

    • C. 

      Share Account

    • D. 

      CD

  • 8. 
    You will receive the greatest gain on your principal if interest is compounded
    • A. 

      Quarterly

    • B. 

      Daily

    • C. 

      Monthly

    • D. 

      Annually

  • 9. 
    A stockbroker works for which type of financial institution?
    • A. 

      Savings and Loan

    • B. 

      Savings Bank

    • C. 

      Brokerage Firm

    • D. 

      Commercial Bank

  • 10. 
    The date on which a CD is due is called the
    • A. 

      Beginning date

    • B. 

      Maturity Date

    • C. 

      Redemption Date

    • D. 

      Ending Date

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