Income 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.
Money market deposit account funds may be used to purchase money market securities.
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True. This is their general purpose.
3.
Retirement money market deposit accounts are insured for up to _______.
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$250,000.
4.
Some money market deposit accounts offer rates that are tied to US Treasury bills.
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True. These are indexed money market accounts.
5.
Individuals often use money market deposit accounts to do all but which of the following?
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Invest their tax revenue. Government bodies do this.