Choose wisely. There is only one correct answer to each question.
0%
Keep studying!
Review your answers below to learn more.
1.
Why do money market IRAs have restrictions on when funds can be withdrawn?
They may offer tax advantages. Because they are retirement accounts, they offer the possibility of tax deductibility or tax-deferral, and this requires restrictions on withdrawals.
2.
Which of the following does not use money market deposit accounts?
None of the above. All of the parties above use them.
3.
Retirement money market deposit accounts are insured for up to _______.
$250,000.
4.
The earnings on money market deposit accounts are generally _______ those of traditional savings accounts.
Higher than. MMDA earnings are tied to the money market.
5.
Money market deposit account funds may be used to purchase money market securities.