Short-term needs include things such as home ownership, education of children, and retirement.

For use of the saver’s money, the financial institution pays the saver money called interest.

A regular savings account pays much less interest than a certificate of deposit.

You may be charged a service fee if you order checks from your bank or use a teller to complete a bank transaction for you.

Certificates of deposit are more liquid than regular savings accounts.

Compound interest is interest computed on the original principal plus accumulated interest.

The law requires all financial institutions to tell consumers the annual percentage yield on their accounts.

Commercial banks offer many banking services and are very competitive

There are around 500 mutual savings banks across the country.

Savings and loan associations usually offer savings and checking account services.

Liquidity is a major advantage to regular savings accounts.

Interest rates on money market accounts go up and down with the securities market.

Money market accounts are not subject to early withdrawal penalties.

Convenience is a reason why many people choose a financial institution.

Your goals for saving money will affect your choice of a financial institution.

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

Credit unions are for-profit organizations.

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

Early withdrawal penalties are charged against CD's for withdrawals prior to maturity.

Money compounded quarterly earns more total interest than money compounded daily.

You will receive the greatest gain on your principal if interest is compounded ____.

A savings account at a credit union is called a ____.

Money left over after you have paid bills is ____.

Which of the following is not a short-term need?

Which of the following is not a long-term need?

Which of the following is a condition determining how much money you will save?

A stockbroker works for which type of financial institution?

If liquidity is important to you, which of the following savings options would you not want to consider?

A method to make regular saving easier is ____.

The date on which a certificate of deposit is due is called the ____.

The money that is left over once the bills are covered.

Unemployment, sickness, leisure activities.

The ability to turn into cash.

The amount of money deposited by a saver.

Money paid for the use of money.

Insurance that covers deposits in commercial banks.

A rate that includes compounding.

Interest paid on the principal plus interest already earned.

Payroll checks sent directly to the bank.

_____ date is when the account comes due.