American_Bankers_Association
CTFA · Question #76
A checking account on which the financial institution pays interest; it have no legal minimum balance is called:
The correct answer is B. Negotiable order of withdrawal account. See the full explanation below for the reasoning.
Investment Management
Question
A checking account on which the financial institution pays interest; it have no legal minimum balance is called:
Options
- AMoney market deposit account
- BNegotiable order of withdrawal account
- CMoney market mutual funds
- DAsset management account
How the community answered
(46 responses)- A9% (4)
- B76% (35)
- C2% (1)
- D13% (6)
Topics
#NOW account#interest-bearing checking#negotiable order of withdrawal#deposit accounts
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