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Questions and Answers
What is a checking account?
What is a checking account?
- A type of deposit account for paying bills and spending (correct)
- A type of deposit account specifically for long-term savings
- A type of deposit account only available at brick-and-mortar banks
- A type of deposit account for short- or long-term savings
Where can you open a checking account?
Where can you open a checking account?
- Only at credit unions
- Only at nonbank financial institutions
- Only at brick-and-mortar banks
- At brick-and-mortar banks, credit unions, and online banks (correct)
What are some key features of checking accounts?
What are some key features of checking accounts?
- Offer convenience, safety, and security for your money (correct)
- Available only at nonbank financial institutions
- Specifically for spending on luxury items
- Designed for long-term savings only
What can different types of bank accounts serve?
What can different types of bank accounts serve?
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What is a basic checking account?
What is a basic checking account?
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