Exam 4: Financial Instruments and Institutions

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All 50 states and the District of Columbia sponsor at least one type of this savings,which is when funds are set aside to go toward post-secondary education expenses.

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With a savings account you earn:

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Which of the following are reasons for putting money into a CD (certificate of deposit)?

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What is a savings account designed for?

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Checking account overdraft protection

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Credit unions are owned by members who make deposits.

(True/False)
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The difference between a Roth IRA and a traditional IRA is

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Home equity loans use _________________ as collateral to secure the loan.

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In the independent life stage,you should open the following account(s):

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Which of the following statements are true regarding interest-bearing checking accounts?

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Which is not a requirement for a negotiable instrument?

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The FDIC insures all commercial bank and credit union depositors' funds up to $100,000 if the institution becomes insolvent.

(True/False)
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Which of the following is known as a negotiable instrument?

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Elena is a college freshman and needs a checking account.What type of financial institution should she choose?

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Why should you look at your checking account statements?

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