Banking Management Post-Test Review

Question 1

Which of the following accounts does NOT earn interest?
-Checking Account
-Savings Account
-CD
-None of the above

Answer 1

Checking Account

Question 2

What’s the #1 reason to keep your money in an insured financial institution?
-You’ll have access to seed accounts.
-You can start pillar saving.
-Your transactions won’t be limited.
-Your money will be safe.

Answer 2

Your money will be safe.

Question 3

What does APY stand for?
-Average Paying Year
-Account Permitted for Youth
-Annual Percentage Yield
-Automatic Payout Y-Axis

Answer 3

Annual Percentage Yeild