Which of the Following Savings Plans Is Not Covered by Federal

question 46

Multiple Choice

Which of the following savings plans is not covered by federal deposit insurance?

• A)a passbook account
• B)a regular chequing account
• C)a money market account
• D)a money market fund
• E)a GIC

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Definitions:

Little To No Involvement

Refers to situations or contexts where individuals or groups contribute minimal effort or have minimal participation.

Achieving Goals

The process of setting objectives and taking steps to accomplish them within a specified timeframe.

Quarterly Estimated Tax Payments

Tax payments made quarterly by individuals and businesses on income not subject to withholding, including self-employment income.

Income Tax Withholdings

Taxes an employer deducts from employees' wages and pays directly to the government as a part of employees' income tax obligations.