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Invest Intermediate: Money Market Deposit Accounts

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1.
Banks and credit unions insure money market deposit accounts.
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False. Both the Federal Deposit Insurance Corporation and the National Credit Union Administration insure deposits, but neither banks nor credit unions do.
2.
Through which of the following means can individuals access the money market?
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Money market deposit account. This type of account has money market features.
3.
Money market deposit accounts vary in many ways. Which of the following is not one of these variations?
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None of the above. All of these are variations among MMDAs.
4.
Individuals saving up for major purchases do not keep their funds in money market deposit accounts.
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True. These are indexed money market accounts.
5.
Some holders of money market deposit accounts transition their funds to other retirement accounts with the hope of earning higher returns.
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True. Though returns are never guaranteed, some accountholders move their funds to other investments with the expectation of higher yields.
Introduction to Money Market Deposit Accounts Overview of the Money Market What Is a Money Market Deposit Account? What Types of Money Market Deposit Accounts Are Available? How Can I Use Money Market Deposit Accounts? Using Money Market Deposit Accounts in Retirement Planning Summary of Money Market Deposit Accounts Find out what you learned