Savings Terminology
Quiz by Mindy Etter
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9 questions
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- Q1A government insured account with tiered interest rates.Money Market Deposit AccountCertificate of DepositSavings AccountSavings Bond30s
- Q2Tool used to transfer funds deposited into an account to make a cash purchase.Money market Deposit AccountChecking AccountSavings AccountCD30s
- Q3An insured, interest earning savings account with restricted access to the funds. You will pay a penalty for early withdrawal.Money Market AccountChecking AccountSavings AccountCertificate of Deposit30s
- Q4Earning interest on interest.Simple InterestCompounded InterestInflation30s
- Q5Discount bond purchased for 50% of its matured value from the U.S. Government.Savings BondCorporate BondCertificate of DepositMoney Market Deposit Account30s
- Q6How quickly and easily an asset can be converted into cash.Compounded InterestInflationLiquidity30s
- Q7The steady rise in the general level of prices.Simple InterestInflationCompound InterestTaxes30s
- Q8Money to be paid out or received in the future is not equivalent to money paid out or received today.SavingsCheckingInterestTime Value of Money30s
- Q9Choose the answer that shows the correct order of money management accounts, from most liquid to least liquid.Savings Bond, CD, Money Market, Savings, CheckingChecking, Saving, Money Market, CD, Savings BondSaving, Checking, Money Market, CD, Savings Bond30s