Which of the following is not a characteristic of most passbook savings accounts?
A)An unlimited number of deposits or withdrawals each month
B)No minimum balance requirement
C)Interest rates are higher than money market rates.
D)Transactions are often recorded in a passbook.

Question

Quizplus · Accepted Answer

Passbook savings accounts typically offer lower interest rates than money market accounts, so C is the incorrect statement. A, B, and D are generally true characteristics of passbook savings accounts.

Which of the Following Is Not a Characteristic of Most