Hooray! You are almost done with module three! Next, we’ll test your knowledge on Savings Accounts!
After completing these practice questions, you will move into the next module.
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It is wise to identify your goals as a good starting point when you want to start saving money.CorrectIncorrect
It is not necessary to create a budget when trying to achieve your goals.CorrectIncorrect
Your necessities shouldn’t exceed 50% of your net income.CorrectIncorrect
You only need to review your budget once a year.CorrectIncorrect
FDIC stands for the Federal Deposit Individual Corporation.CorrectIncorrect
The money you deposit in your bank account is federally insured up to $250,000.CorrectIncorrect
Money Market accounts require a higher minimum balance than regular savings accounts.CorrectIncorrect
There is no penalty if you withdraw money early from your Certificate of Deposit of Account.CorrectIncorrect
High Yield accounts are only available in your traditional brick and mortar financial institutions.CorrectIncorrect
Savings Bonds are a type of high-risk savings plan.CorrectIncorrect