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

1 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

1 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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Jerry

3 days ago

I agree, Share draft account is the account offered by credit unions.

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Noe

15 days ago

I think B) Share draft account is the right choice.

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Leonida

1 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

1 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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Whitney

16 days 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

19 days ago

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

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Katie

2 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

1 months ago

I agree, B) Share draft account is the correct answer. It functions just like a checking account.

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Bulah

1 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

2 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

2 months ago

I agree with Tori, because credit unions offer share draft accounts for members.

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Tori

3 months ago

I think the answer is B) Share draft account.

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