CD/IRA Flashcards
1
Q
Why should a client chose a CD to save?
A
Fixed rate return; Reduce access to funds; terms from 7 days to 120 months; FDIC insures up to $250k
2
Q
Why should a client choose an IRA to save?
A
Different IRA options, potential tax deferral or reduction; fixed rate options; FDIC insured
3
Q
What is the difference between Featured CD/IRA CD and Fixed Term CD/IRA CD?
A
Featured has a higher rate & fixed has different terms available
4
Q
What is the minimum opening balance for a Featured CD/IRA?
A
$1,000
5
Q
What is the minimum opening balance for Fixed Term CD/IRA CD?
A
$15,000 for CD term of 7-27 days
$1,000 for CD term of 28 days - 10 yrs
$1,000 for IRA
