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Questions and Answers
What is the main purpose of a cash management account?
What is the main purpose of a cash management account?
- To offer higher interest rates than traditional bank accounts
- To be offered exclusively by non-bank financial institutions
- To provide services and features of checking, savings, and investment accounts in a single account (correct)
- To allow customers to deposit and withdraw cash easily
Which of the following is NOT a typical feature of a cash management account?
Which of the following is NOT a typical feature of a cash management account?
- Savings account services
- Checking account services
- Loan services (correct)
- Investment account services
Why are cash management accounts typically offered by non-bank financial institutions?
Why are cash management accounts typically offered by non-bank financial institutions?
- Non-bank institutions have more flexibility in account offerings (correct)
- Non-bank institutions can offer higher interest rates
- Non-bank institutions are not subject to the same regulations as banks
- Non-bank institutions have a greater need to attract customers
How do cash management accounts differ from traditional bank accounts?
How do cash management accounts differ from traditional bank accounts?
Which of the following is a key similarity between cash management accounts and traditional bank accounts?
Which of the following is a key similarity between cash management accounts and traditional bank accounts?
Cash management accounts combine services and features similar to checking, savings, and/or investment accounts in one product. They are typically offered by non-bank financial ______.
Cash management accounts combine services and features similar to checking, savings, and/or investment accounts in one product. They are typically offered by non-bank financial ______.
These cash accounts combine services and features similar to checking, savings, and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial ______.
These cash accounts combine services and features similar to checking, savings, and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial ______.
Cash management accounts are typically offered by non-bank financial ______.
Cash management accounts are typically offered by non-bank financial ______.
Cash management accounts combine services and features similar to checking, savings, and/or investment accounts in one ______.
Cash management accounts combine services and features similar to checking, savings, and/or investment accounts in one ______.
These cash accounts combine services and features similar to checking, savings, and/or investment accounts in one ______.
These cash accounts combine services and features similar to checking, savings, and/or investment accounts in one ______.
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