Question

which of the following is not mentioned as a document typically needed to open a savings account?
a. valid id
b. social security number
c. proof of address
d. credit report

according to the text, which of these fees should you watch out for when choosing a savings account?
a. maintenance fees
b. deposit fees
c. transfer fees
d. account opening fees

Explanation:

First Question:

To open a savings account, typical required documents include valid ID (for identification), Social Security number (for tax and identification purposes), and proof of address (to verify residence). A credit report is used to assess creditworthiness, usually for credit - related accounts like loans or credit cards, not for opening a savings account.

When choosing a savings account, maintenance fees are a common fee to watch out for. Banks often charge maintenance fees if certain conditions (like minimum balance) are not met. Deposit fees are rare for savings accounts as depositing money is a primary function. Transfer fees may be associated with moving money between accounts but are not as common a concern as maintenance fees. Account opening fees are also not typical for most savings accounts.

Answer:

D. Credit report

Second Question: