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Test Your Knowledge Lesson 2: In the Aftermath

Test Your Knowledge Lesson 2: In the Aftermath. Click on the letter of your choice to test your understanding. Question 1.

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Test Your Knowledge Lesson 2: In the Aftermath

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  1. Test Your KnowledgeLesson 2: In the Aftermath Click on the letter of your choice to test your understanding.

  2. Question 1 A deposit account that offers easy access to your money, offers the option to pay bills online or by electronic transfer, and offers the option to make purchases with an ATM or debit card is called:

  3. Question 2 A deposit account that pays interest on deposits, allows withdrawals and transfers with an ATM card, does not offer the option of bill payment or purchases, and may have a minimum deposit requirement is called

  4. Question 3 A deposit account that requires deposited funds to remain in the account for a fixed amount of time, imposes penalty fees for early withdrawal, and generally pays higher interest rates than other deposit accounts is called:

  5. Question 4 A deposit account that pays higher interest on deposits than other accounts, generally has a minimum balance requirement, and allows a very limited number of transactions each month is called:

  6. Question 5 Examples of traditional financial institutions include:

  7. Question 6 Which of the following items is a potential negative consequence of placing money in a certificate of deposit?

  8. Question 7 When choosing a financial institution, you should consider:

  9. Question 8 A check:

  10. Question 9 An overdraft occurs:

  11. Question 10 Direct deposit:

  12. Thank you for participating in “Test Your Knowledge”

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