The Technical Name for a Savings Account Is a

question 181

Multiple Choice

The technical name for a savings account is a

• A) time deposit.
• B) demand deposit.
• C) deferred account.
• D) retained income account.

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Definitions:

Type I Error

The statistical error that occurs when a true null hypothesis is incorrectly rejected.

Null Hypothesis

A statistical hypothesis that assumes no significant difference or effect in a given situation, used as a basis for testing.

Life Insurance

A contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured.

Professional Men

Individuals who are males working within their expertise or occupation, often requiring specialized education and training.