Various Saving Schemes and Products


6. Which of the following is NOT a type of Individual Retirement Account (IRA)?

a) Roth IRA

b) Traditional IRA

c) SEP IRA

d) 401(k) IRA

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7. What is the purpose of a health savings account (HSA)?

a) To save for short-term expenses

b) To save for higher education expenses

c) To save for medical expenses

d) To save for retirement

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8. Which of the following is a risk associated with investing in stocks?

a) Inflation risk

b) Credit risk

c) Market risk

d) Interest rate risk

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9. What is the purpose of a money market fund?

a) To provide overdraft protection

b) To earn high interest rates

c) To provide short-term loans

d) To make online purchases

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10. Which of the following is a type of government bond?

a) Corporate bond

b) Municipal bond

c) Treasury bond

d) Junk bond

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