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What Is a Time Deposit Account? - Definition & Example

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Choose the best answer that describes interest.

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1. Choose the best answer to describe a demand deposit.

2. Choose the best answer to describe a time deposit.

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About This Quiz & Worksheet

This quiz and worksheet will help you assess your knowledge of time deposit accounts. You will need to know specific topics including interest and demand deposits.

Quiz & Worksheet Goals

Use these study tools to find out how well you know how to:

  • Describe a time deposit
  • Interpret the acronym FDIC
  • Identify the financial product that allows money withdrawals from an ATM

Skills Practiced

Practice these study skills via the quiz and worksheet:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on time deposit accounts
  • Making connections - use understanding of the concept of financial products and how they are connected to withdrawals from an ATM
  • Interpreting information - verify that you can review information regarding the FDIC and interpret it correctly
  • Information recall - access the knowledge you've gained regarding demand deposits

Additional Learning

Utilize the related lesson for more information about this subject. The lesson is called What Is a Time Deposit Account? - Definition & Example. Once you've finished the lesson, you will have gone over the following study objectives:

  • Understand what time deposits are
  • Define demand deposit
  • Recognize advantages and disadvantages of time deposits
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