Income Intermediate: Money Market Deposit Accounts

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1.
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.
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.
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.
4.
Which of the following does not use money market deposit accounts?
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None of the above. All of the parties above use them.
5.
Which of the following is not a popular reason to keep funds in a money market deposit account after it has been withdrawn from a tax-qualified retirement account?
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None of the above. All of the above reasons are popular.