American Bankers Association Exam CTFA Topic 5 Question 71 Discussion

Actual exam question for American Bankers Association's CTFA exam

Question #: 71
Topic #: 5

[All CTFA Questions]

An account offered by credit unions that is similar to interest paying checking accounts offered by the other financial institutions is:

ADeposit insurance

BShare draft account

CInternet bank

DChecking and saving accounts

Show Suggested Answer

Suggested Answer: B

by Tiera at Jul 17, 2024, 05:42 PM

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Javier

17 days ago

You know, I bet the credit unions are trying to one-up the banks with some fancy shmancy account name like 'share draft'. Gotta love the credit union creativity!

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Luisa

22 days ago

Ha! Internet bank? Really, Leonida? That's a bank, not a credit union account. I'm sticking with B. Share draft account, sounds like the winner to me.

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Leonida

24 days ago

Hmm, this is a tricky one. I'm not too familiar with credit union accounts. I'll take a wild guess and say C. Internet bank.

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Truman

25 days ago

I'm leaning towards D. Checking and saving accounts. Seems like the credit unions would offer those same basic services as the banks.

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Fletcher

2 days ago

I think it's actually B. Share draft account. Credit unions use this term instead of checking account.

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2 months ago

I think the answer is B) Share draft account.

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