Strategy Beginner: Choosing a Savings or Checking Account

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1.
An online-only financial institution does not have a physical location.
Choose wisely. There is only one correct answer.
True. This type of financial institution is found only on the Internet.
2.
Checking accounts are designed for _______ money.
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Spending. As such, most of their value lies in helping you pay your expenses.
3.
What type of earnings are paid on credit union savings accounts?
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Dividends. While banks pay interest, credit unions pay dividends.
4.
_______ financial institutions allow minors to hold checking accounts.
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Many. Not all institutions allow them.
5.
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.