Which of the Following Is Not True of a NOW

question 80

Multiple Choice

Which of the following is not true of a NOW account?

• A) Offered by depository institutions
• B) Pays relatively low interest
• C) Only three checks per month can be written
• D) Requires a minimum balance

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Definitions:

Restrictions

Regulations or limitations placed on actions, activities, or movements to control or reduce certain behaviors or practices.

Contract Clause

A specific provision or condition within a contract that specifies obligations, rights, or actions to be taken by the parties involved.

Union Services

Services provided by labor unions to their members, such as collective bargaining, legal representation, and negotiation of wages and working conditions.

Unionized Facility

A workplace where a labor union represents the interests of the employees and engages in collective bargaining with management for contracts covering wages, benefits, and working conditions.