Everfi Module 2 |16 Questions| With Correct Answers.

Compare/ contrast a checking account and savings account. Which offers more interest? Which is easier to get money out of? {Ans: Savings account offers more interest. Checking accounts are more easier to get your money out of.}What are some unique features of a credit union? {Ans: 1.Credit Unions are typically owned and run by their members. 2.Credit Unions offer a wide variety of banking services}What are the three parts of the Federal Reserve System? {Ans: 1.Reserve Banks 2.Federal Open Market Committee 3.Board of Governors.}With a traditional savings account, there might be a fee for withdrawing money ______ _________. {Ans: too; often}Between checking, savings, money market, and certificate of deposit, which typically has the highest interest rate? Which has the lowest liquidity? {Ans: Certificate of Deposit (CD)}Which type of bank account is typically the most liquid? {Ans: Checking Account}How do you avoid paying ATM fees? {Ans: Only use ATM's in your banks network}Which type of financial institution typically has some sort of requirement to be a member? {Ans: Credit Union}What is the best way to ensure the accuracy and safety of your accounts? {Ans: Monitor your accounts regularly.}What three things do the