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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:

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Suggested Answer: B

Contribute your Thoughts:

Javier
2 months 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
2 months 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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Michael
26 days ago
Deposit insurance is important too, but Share draft account is the correct answer.
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Jerry
1 months ago
I agree, Share draft account is the account offered by credit unions.
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Noe
1 months ago
I think B) Share draft account is the right choice.
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Leonida
2 months 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
2 months 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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Jaime
30 days ago
I'm not sure, but I think B is the correct answer. Share draft account sounds like what credit unions would offer.
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Whitney
2 months ago
I agree with you, B makes more sense. Share draft account is the equivalent of a checking account at a credit union.
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Fletcher
2 months ago
I think it's actually B. Share draft account. Credit unions use this term instead of checking account.
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Katie
3 months ago
Definitely going with B. Share draft account. That's the one that's most like a regular checking account at a bank, right?
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Douglass
2 months ago
I agree, B) Share draft account is the correct answer. It functions just like a checking account.
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Bulah
2 months ago
Yes, you're right! A share draft account is very similar to a regular checking account at a bank.
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Candra
3 months ago
I'm not sure, but I think it's B) Share draft account too. It makes sense for credit unions to have similar accounts like other financial institutions.
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Theron
3 months ago
I agree with Tori, because credit unions offer share draft accounts for members.
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Tori
4 months ago
I think the answer is B) Share draft account.
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