Various Saving Schemes and Products

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21. Which of the following is NOT a type of savings bond?

a) Series EE bond

b) Series I bond

c) Series FF bond

d) Series HH bond

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22. What is the purpose of a business line of credit?

a) To save for short-term expenses

b) To make online purchases

c) To provide funding for higher education expenses

d) To provide a flexible source of funds for business needs

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23. Which of the following is NOT a type of consumer loan?

a) Auto loan

b) Student loan

c) Personal loan

d) Money market loan

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24. What is the purpose of a home equity line of credit (HELOC)?

a) To finance the purchase of a new home

b) To refinance an existing mortgage

c) To make improvements to a home

d) To provide a revolving line of credit based on the equity in a home

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25. Which of the following is a type of insurance that covers the loss of income due to disability?

a) Life insurance

b) Health insurance

c) Auto insurance

d) Disability insurance

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