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Questions and Answers
What percentage of your paycheck is recommended to be put into savings?
What percentage of your paycheck is recommended to be put into savings?
- 15%
- 30%
- 10%
- 20% (correct)
Which financial institution is characterized by a goal to make money?
Which financial institution is characterized by a goal to make money?
- Investment Firm
- Commercial Bank (correct)
- Cooperative
- Credit Union
What type of institution offers higher savings interest rates and lower loan rates?
What type of institution offers higher savings interest rates and lower loan rates?
- Commercial Bank
- Investment Bank
- Credit Union (correct)
- Online Bank
Which institution typically has limited locations that are regional or group-specific?
Which institution typically has limited locations that are regional or group-specific?
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What is the purpose of an Emergency Fund?
What is the purpose of an Emergency Fund?
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What is the primary goal of a Commercial Bank?
What is the primary goal of a Commercial Bank?
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Which type of financial institution typically offers lower loan rates?
Which type of financial institution typically offers lower loan rates?
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What is the distinguishing feature of a Credit Union in terms of its goal?
What is the distinguishing feature of a Credit Union in terms of its goal?
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Which financial institution is more likely to have convenient locations?
Which financial institution is more likely to have convenient locations?
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Where would you most likely find higher savings interest rates and lower loan rates?
Where would you most likely find higher savings interest rates and lower loan rates?
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