Personal Finance - Saving And Investing For The Future - Part 4 Question Preview (ID: 1928)


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Credit unions generally offer lower interest on savings and higher interest on loans.
a) True
b) False
c)
d)

Money deposited into savingsa ccounts grows due to compound interest.
a) True
b) False
c)
d)

Emergencies, vacations, social events, and major purchases are examples of long-term needs people save for.
a) True
b) False
c)
d)

The more risk associated with an investment, the higher the rate of return is likely to be.
a) True
b) False
c)
d)

When comparing the yields on different accounts at different financial institutions, you should shop around for the lowest APY.
a) True
b) False
c)
d)

When choosing a financial institution in which to deposit your savings, consider safety, liquidity, convenience, interest-earning potential (yield), and feeds/restrictions.
a) True
b) False
c)
d)

Money market accounts (at banks) that are not insured by the FDIC are still considered safe because the securities backing these funds are very stable.
a) True
b) False
c)
d)

A combination savings-investment plan in which an investment firm uses your money to purchase a variety of short-term securities is called a
a) Certificate of Deposit
b) Money Market Account
c) Regular Savings Account
d) Share of Stock

The amount of money you have left over when the bills are paid is known as discretionary income.
a) True
b) False
c)
d)

Savings accounts pay dividends, whereas securities pay interest.
a) True
b) False
c)
d)

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