Savings Accounts Quiz
5 Questions
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Savings Accounts Quiz

Created by
@BeneficialHedgehog

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Questions and Answers

Which type of savings account is recommended for short-term needs, such as an emergency fund?

  • High-yield savings account
  • Certificate of deposit
  • Money market account
  • Traditional savings account (correct)

    • What is one of the longer-term goals that savings accounts can help with?

  • Buying a car
  • Stashing away cash for a down payment on a home (correct)
  • Paying off credit card debt
  • Investing in the stock market

    • Which type of savings account offers higher interest rates than traditional savings accounts?

  • Money market account
  • High-yield savings account (correct)
  • Cash management account
  • Certificate of deposit

    • Which type of savings account allows you to write checks and use a debit card?

    <p>Money market account</p> Signup and view all the answers

    Which type of savings account is specifically designed for a particular purpose, such as saving for education or healthcare expenses?

    <p>Specialty savings account</p> Signup and view all the answers

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