Strategy Beginner: Choosing a Savings or Checking Account

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1.
As a general rule, larger financial institutions offer ______ services and options compared to smaller ones.
Choose wisely. There is only one correct answer.
More. Size generally enables an institution to offer more products and services.
2.
It is possible to get some of your bank or credit union fees waived if _______.
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All of the above. Certain fees can be waived if you meet one of these conditions.
3.
Which of the following is the best reason why checking accounts aren't effective for saving money?
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They are designed for spending money. Because they are designed to be spent by you rather than used by the institution holding them, they pay them little or no earnings.
4.
Online financial institutions often charge fewer fees than traditional ones because they have less overhead and can afford to charge you less.
Choose wisely. There is only one correct answer.
True. Online institutions have this advantage.
5.
A savings account for a working teenager can help him or her save money because it helps discourage paychecks from being spent right away.
Choose wisely. There is only one correct answer.
True. That, in turn, can put a damper on excessive spending.