True/False Indicate whether the sentence or statement is true or
false.
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1
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The main advantage of traveler’s checks is that they are safer than cash
due to the requirement of having to be signed twice, once when purchased and once when used.
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2
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If you are a member of the American Automobile Association (AAA), you only have
to pay 1% of the total value of the travelers checks to purchase them.
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3
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There is a now prepaid electronic version of traveler’s checks that works
like a prepaid gift card; it can be used at most ATMs and like a credit card.
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4
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401(k) accounts differ from IRAs in that employers quite often also contribute
to the 401(k) account where only the holder of an IRA account normally contributes to the
account.
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Multiple Choice Identify the letter of the choice that best
completes the statement or answers the question.
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1
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Which of the following would NOT be found a bank statement?
a | account transfers | c | average balance for the month | b | deposits made during
the month | d | beginning balance
for the month |
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2
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Which type of money order is the most expensive to get?
a | bank | b | postal | c | express | d | telegraphic |
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3
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‘IRA’ stands for......
a | Individual Record Account | c | Investment Retirement
Account | b | Individual Retirement Account | d | Investment Record
Account |
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4
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Penalties are assessed if withdrawals are made from your IRA before you reach
the age of ___________ unless you incur a permanent disability and need the money.
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Numeric Response
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1
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You can change from one IRA investment to another without penalty if the money
is not withdrawn for more than _____ days.
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Completion Complete each sentence or statement.
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1
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Which type of money order is limited to $1,000? (no capitalization; spelling
counts)
_________________________
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