Last week, we asked: Do you know enough about the rewards and conditions of deposit accounts to assess which best suits your needs? Then we gave you Part I of our quiz to help you find out.

Here’s Part II. Find out how familiar you are with Ally deposit accounts, and about deposit accounts in general.

1. What is an Ally No Penalty CD?

A) A CD that won’t earn you interest.

B) A CD that won’t penalize you if your balance falls below $100.

C) A CD that lets you close the account before maturity, but still allows you to keep all your principal and earned interest.

D) A CD that can’t be audited by the IRS.

Answer

 

2. Which type of CD gives you the option to increase your interest rate?

A) Raise Your Rate CD.

B) High Yield CD.

C) No Penalty CD.

D) CD-ROM.

Answer

 

3. How often does Ally compound interest on all of its deposit accounts?

A) Daily.

B) Monthly.

C) Quarterly.

D) Annually.

Answer

4. Several Ally accounts offer a “variable rate.” This means:

A) The dollar amount you’re required to keep in your account varies.

B) Your interest rate may change.

C) The travel points you earn may change.

D) You can change your PIN number whenever you want.

Answer

 

How well did you do on the two Ally quizzes? Do you know more about savings accounts now than you did before you took the quiz?