CYAF 222 Mod 4 Questions with Verified Correct
Answers
A check drawn on a financial institution, backed by the financial institution's finances, and
made out to a specific payee is called a
cashiers check
When an account pays one rate of interest on a minimum amount on deposit and a higher
rate of interest on additional deposits, this is called ____ interest.
tiered
Which of the following is a reason why you should reconcile your bank accounts regularly?
all of these
If Gus believes interest rates are going to fall in the near future and remain low for several
years, Gus should now
invest in a variable-rate certificate of deposit.
Which of the following is the best advice for people who want to start saving regularly?
pay yourself first
The primary reason for giving a child an allowance is to
teach the child how to manage money
Which of the following might be used by an employer to pay an employee?
preloaded debit card
, Which of the following is not a benefit of a savings account?
Account holders must give 30 to 60 days' notice for withdrawals
Which of the following is the least expensive way of protecting yourself from fees should
you overdraft your checking account.
An automatic funds transfer agreement
Which of the following certificates of deposit is not covered by bank deposit insurance
offered by the FDIC?
investment certificate
Certificates of deposit (CDs) tend to pay higher rates of interest than money market
accounts because
the investor agrees to leave his or her money in the CD for a specified period of time while he or
she has free access to the funds in a money market account.
The monetary asset management service provided by a mutual fund is a
money market mutual fund accounts.
Checks you write and present for payment can clear your bank in as little as
minutes
To reduce interest rate risk and smooth out interest rate fluctuations when purchasing
certificates of deposit (CDs) you can engage in
cd laddering
Answers
A check drawn on a financial institution, backed by the financial institution's finances, and
made out to a specific payee is called a
cashiers check
When an account pays one rate of interest on a minimum amount on deposit and a higher
rate of interest on additional deposits, this is called ____ interest.
tiered
Which of the following is a reason why you should reconcile your bank accounts regularly?
all of these
If Gus believes interest rates are going to fall in the near future and remain low for several
years, Gus should now
invest in a variable-rate certificate of deposit.
Which of the following is the best advice for people who want to start saving regularly?
pay yourself first
The primary reason for giving a child an allowance is to
teach the child how to manage money
Which of the following might be used by an employer to pay an employee?
preloaded debit card
, Which of the following is not a benefit of a savings account?
Account holders must give 30 to 60 days' notice for withdrawals
Which of the following is the least expensive way of protecting yourself from fees should
you overdraft your checking account.
An automatic funds transfer agreement
Which of the following certificates of deposit is not covered by bank deposit insurance
offered by the FDIC?
investment certificate
Certificates of deposit (CDs) tend to pay higher rates of interest than money market
accounts because
the investor agrees to leave his or her money in the CD for a specified period of time while he or
she has free access to the funds in a money market account.
The monetary asset management service provided by a mutual fund is a
money market mutual fund accounts.
Checks you write and present for payment can clear your bank in as little as
minutes
To reduce interest rate risk and smooth out interest rate fluctuations when purchasing
certificates of deposit (CDs) you can engage in
cd laddering
