business 4

The savings plan that is likely to have a set rate of return is a a. money market account. b. certificate of deposit. c. debit card account. d. money market fund.

certificate of deposit

A personal check with guaranteed payment is a a. certified check. b. bank draft. c. cashier's check. d. money order.

certified check

t/f A CD account is a checking account that earns interest.

false

t/f Demand deposits refer to money deposited in savings accounts.

false

The fewest financial services would probably be offered by a(n) a. credit union. b. savings and loan association. c. commercial bank. d. investment company.

investment company

A __________ endorsement is most useful when depositing checks by mail. a. special b. blank c. restrictive d. multiple

restrictive

The rate of return on a savings account may also be referred to as a. yield. b. compounding. c. liquidity. d. equity.

yield

t/f A credit union is a non-profit financial institution.

true

t/f A quick source of cash is to liquidate savings.

true

t/f A savings account with daily compounding will have higher earnings than an account with quarterly compounding.

true