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Questions and Answers
What is the main purpose of a checking account?
What is the main purpose of a checking account?
- To secure long-term savings
- To invest in stocks and bonds
- To earn high interest on savings
- To pay bills and make purchases (correct)
Where can you open a checking account?
Where can you open a checking account?
- At a brokerage firm
- At a real estate agency
- At a brick-and-mortar bank, credit union, or online bank (correct)
- At an insurance company
What is a key benefit of a checking account?
What is a key benefit of a checking account?
- Tax benefits for retirement savings
- Long-term investment growth
- High interest on savings
- Convenience for everyday transactions (correct)
What distinguishes different types of bank accounts?
What distinguishes different types of bank accounts?
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What is a common feature of bank accounts?
What is a common feature of bank accounts?
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