FREE AND STUDY GAMES ABOUT SAVINGS ACCOUNTS

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FREE AND STUDY GAMES ABOUT SAVINGS ACCOUNTS

EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -13 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: Your net pay is deposited electronically into your bank account.

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Direct Deposit.Question 2: Means that you are guaranteed not to lose your savings deposit, even if the bank or other financial institution fails and goes out of business.

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Safety Principal Question 3: Is the % of increase in the value of your savings due to earned interest.

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Yield Question 4: Is a measure of how quickly you can get your cash without loss of value.

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Liquidity

Question 5: Is a type of savings account that offers a more competitive interest rate than a regular savings account.

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Money Management Account

Question 6: If you take out any part of your money early, you will pay?

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Early Withdrawal Penalty Question 7: The amount of money you will deposit into a savings account is call the ___

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Principal Question 8: Is a deposit that earns a fixed interest rate for a specified length of time.

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Certificate of Deposit (CD) Question 9: Is interest paid on the original principal plus accumulated interest.

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Compound Interest

Question 10: Is the date on which an investment becomes due for payment.

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Maturity Date

Question 11: Represents earnings on your deposit.

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Interest

Question 12: is how much you will receive if you choose to redeem you CD.

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Maturity Amount

Question 13: Is the actual interest rate an account pays, stated on a yearly basis with compounding included.

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Annual Percentage Yield (APY)