Money market deposit accounts:

Question

Quizplus · Accepted Answer

Money market deposit accounts are protected by CDIC (Canada Deposit Insurance Corporation), which provides insurance protection up to $100,000 per depositor, per insured category. Therefore, option A is the correct choice.

Option B is incorrect because money market deposit accounts are not exempt from OSC (Ontario Securities Commission) regulations since they are considered investment products.

Option C is also incorrect as CIPF (Canadian Investor Protection Fund) protection applies to investment accounts, not money market deposit accounts.

Option D is partially correct as money market deposit accounts can suffer the loss of principal if the issuer fails, but the amount up to $100,000 per depositor, per insured category is insured by CDIC.

Option E is incorrect as money market deposit accounts typically have limited cheque-writing privileges, and the number of cheques that can be written each month may be restricted.

Money Market Deposit Accounts