Savings Test Question Preview (ID: 57698)

a) Certificate of Deposit

b) Money Market account

c) Regular savings account

d)

a) People often believe they are saving when they buy products at a listed discount, even if they didn't need the product in the

b) It is extremely difficult to open a savings account, as you typically need at least $10,000 for your initial deposit

c) Billions of dollars are spent on marketing to persuade consumers to spend money instead of saving it

d)

a) Wait until the end of the month and save whatever is left in your checking account

b) Save a certain percentage of each paycheck and deposit it directly into a savings account

c) Cover all of your wants and needs and save whatever is left over

d)

a) Checking accounts only

b) Checking accounts and online savings accounts

c) Checking accounts and money market accounts

d)

a) Retirement, a house down payment, college tuition

b) A new cell phone, college tuition, a house down payment

c) Retirement, college tuition, a vacation

d)

a) Days

b) Months

c) Years

d)

a) Buying new sneakers the day they come out, because you know others in your class will have them, too

b) Applying to the top colleges, to see if you'll get accepted what financial aid packages they'll offer

c) Saving for retirement as soon as you graduate college, to take advantage of compounding interest

d)

a) This account offers a convenient way to pay bills and access cash from an ATM

b) This account pays you interest on money you have put away for later to help your money grow

c) This account typically allows an unlimited number of transactions per month

d)

a) Aunt Tina and her family don't have any money saved, and their paychecks are just barely covering monthly expenses, so they u

b) Aunt Tina and her family have high paying jobs and don’t worry much about money

c) Aunt Tina uses her paychecks as income to deposit into her checking and savings accounts

d)

a) Mrs. Bender

b) Ms. Bonczynski

c) Both

d)