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Strategy Intermediate: Choosing a Savings or Checking Account

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1.
If you close a savings or checking account and get charged a fee because of that, it's probably because you didn't keep it open as long as you had agreed to when you first opened it.
Choose wisely. There is only one correct answer.
True. This is the most likely reason why you'd be charged a fee for closing an account.
2.
_______ financial institutions allow minors to hold checking accounts.
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Many. Not all institutions allow them.
3.
In return for getting earnings, a checking account will typically _______.
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Both of the above. This is to ensure that your funds stay available for the financial institution to use.
4.
An online-only financial institution does not have a physical location.
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True. This type of financial institution is found only on the Internet.
5.
What type of earnings are paid on credit union savings accounts?
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Dividends. While banks pay interest, credit unions pay dividends.