ECONOMICS
SAVING AND INVESTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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bank savings accounts
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credit union savings accounts
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money market mutual funds
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bank certificates of deposit (CDs)
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Detailed explanation-1: -Investment products that are not deposits, such as mutual funds, annuities, life insurance policies and stocks and bonds, are not covered by FDIC deposit insurance.
Detailed explanation-2: -Money market mutual funds, however, are not federally insured. These are offered by brokers and other entities that are not banks or credit unions. If you have multiple accounts with a bank or credit union, talk to your bank or credit union to confirm your coverage.
Detailed explanation-3: -The FDIC does not insure money invested in stocks, bonds, mutual funds, life insurance policies, annuities or municipal securities, even if these investments are purchased at an insured bank.
Detailed explanation-4: -Mutual Funds is not a part of Money Market.