Quiz - Banking & Savings Tools - Futures First Academy

1. Which type of account is best for daily spending and paying bills?

Savings Account

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Checking Account

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Certificate of Deposit

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Roth IRA

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2. What is the main advantage of a high-yield savings account?

Unlimited withdrawals

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Higher interest rate than a regular savings account

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Debit card access

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No minimum balance

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3. Which banking tool requires you to lock your money for a set period?

Checking Account

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Money Market Account

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Certificate of Deposit (CD)

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Online Bank

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4. Which of the following is a con of a Money Market Account?

Guaranteed rate

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Limited transactions

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FDIC insurance doesn’t apply

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No access to funds

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5. If you want your money to be tax-free later in retirement, which tool should you choose?

Roth IRA

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401(k)

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CD

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Savings Account

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Quiz – Banking & Savings Tools

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