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Personal Finance - Saving And Investing For The Future - Part 5
Test Description: Review for Test
Instructions: Answer all questions to get your test result.
1) Because investments are often risky, you should make them in addition to - not instead of - regular savings.
A
True
B
False
2) A regular savings account is illiquid because you cannot withdraw your money at any time without penalty.
A
True
B
False
3) The type of savings account offered to members of a credit union is called a
A
regular savings account
B
share account
C
money market account
D
mutual fund
4) Earnings on savings can be measured by the rate of return, or yield (APY).
A
False
B
True
5) Which of the following is NOT a disadvantage of investments through a brokerage firm?
A
High minimum deposit
B
Illiquid
C
Not insured
D
Low risk
6) Corporate bonds are debt obligations of state/local governments, whereas municipal bonds are debt obligations of corporations.
A
False
B
True
7) A financial market or a group of securities in which prices are rising or are expected to rise is known as a
A
bull market
B
bear market
8) A market condition in which the prices of securities are falling is called a
A
bull market
B
bear market
9) The phrase "Don't put all your eggs in one basket" illustrates the concept of diversification.
A
False
B
True
10) APY stands for
A
Annual Percentage Yield
B
Aging Property Yield
C
Annual Profit Yield
D
Annual Principle Yield
*select an answer for all questions
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