Wednesday, May 23, 2012
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Savings/Credit Quizzes
Which of the following is correct with respect to bank savings accounts:
(a) Bank savings account are not taxable
(b) Banks savings account are not generally insured by the FDIC
(c) Banks savings accounts traditionally provide a lower interest rate compared to long term certificates of deposit
(d) You must be at least 21 to have a bank savings account
What does "FDIC" mean?
(a) Foreign Direct Investment Companies
(b) Federal Deposit Insurance Corporation
(c) Full Disclosure Investor Contracts
(d) Fair Determination Investment Changes
Jumbo CDs come in minimum denominations of:
(a) $10,000
(b) $25,000
(c) $50,000
(d) $100,000
What amount of protection is provided by federal deposit insurance?
(a) $200,000
(b) $100,000
(c) $250,000
(d) $150,000
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Issuer
An "issuer" is an entity, such as a corporation, municipality, or government, that...
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