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AAFM GLO_CWM_LVL_1 Exam - Topic 3 Question 60 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam
Question #: 60
Topic #: 3
[All GLO_CWM_LVL_1 Questions]

Interest on savings bank accounts is paid on _______.

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Suggested Answer: B

by Lorrie at Mar 30, 2023, 07:47 AM

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Verdell
6 months ago
I agree with C, but I've heard different rules at other banks.
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Carolynn
6 months ago
Wait, is it really daily balance? I thought it was monthly.
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Stefania
6 months ago
Definitely option C! That's how my bank does it.
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Macy
6 months ago
I thought it was the lowest balance for the month?
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Lyla
6 months ago
Interest is usually calculated on the daily balance.
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Jerry
7 months ago
I thought it was the lowest balance between the 10th and the end of the month, but now I'm second-guessing myself.
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Josefa
7 months ago
I'm not entirely sure, but I feel like it might be the lowest balance between the 1st and 10th. I remember something about that timeframe.
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Marcelle
7 months ago
I practiced a similar question, and I believe it's the daily balance during the month. That seems to be the most common method.
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Shawna
7 months ago
I think interest is calculated on the lowest balance, but I can't remember if it's between the 10th and the end of the month or just the 10th to the 30th.
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Allene
7 months ago
Okay, let me see. The Problem table must be related to one of the other tables listed. I'll need to consider how they might be connected.
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Margarita
7 months ago
Link aggregation sounds like a good option to boost bandwidth. And IP multipathing could help with availability, if I'm understanding that correctly.
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Louisa
7 months ago
Okay, I've got this. The script is telling me the dose (15ml) and the frequency (every 4 hours as needed). So I just need to translate that into the appropriate wording for the packaging. I'll go with B.
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Kaitlyn
7 months ago
I remember we discussed the Service Autonomy principle in class, and I feel like option B relates to some of the issues we talked about with dependencies.
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Alberta
11 months ago
I'm going with C. Daily balance seems like the fairest way to calculate interest, even if it's not the most profitable for the bank. Though I wouldn't put it past them to try sneaking in some loopholes!
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Garry
11 months ago
Ha! I bet the bank's accountants would love to pay interest on the lowest balance. That way, they get to keep more of our hard-earned money. C is definitely the right answer here.
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Justa
10 months ago
It's important to know how interest is calculated on savings accounts.
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Goldie
10 months ago
I always make sure to keep track of my balance throughout the month.
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Elizabeth
11 months ago
Yeah, it's fair to calculate interest based on the daily balance.
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Dorian
11 months ago
I agree, C is the correct answer. Daily balance makes more sense.
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Shantell
11 months ago
Hmm, I'm a little unsure about this one. Is it possible that the interest is paid on the lowest balance between 10th and the end of the month? That seems like a common practice.
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Colette
10 months ago
B) lowest balance between 10th and the end of the month
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Willard
10 months ago
C) daily balance during the month
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Gerry
11 months ago
A) lowest balance between 10th and 30th of the month
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Jettie
1 year ago
I think the correct answer is C. It makes sense that interest would be paid on the daily balance during the month, not just on the lowest balance during a specific period.
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Flo
11 months ago
I agree, interest on savings accounts is usually calculated based on the daily balance.
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Joaquin
12 months ago
I think the correct answer is C.
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Barrett
1 year ago
Hmm, I'm not sure. Maybe we should check the bank's policy to be sure.
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Gerardo
1 year ago
I believe it's actually the lowest balance between 1st and 10th of the month.
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Barrett
1 year ago
I think the interest is paid on the lowest balance between 10th and 30th of the month.
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