Question

what is a sign up bonus? *
a. a required minimum deposit to open a new savings account.
b. a guaranteed fixed yield offered by a certificate of deposit (cd).
c. cash bonuses offered by some banks when you open a new savings account.
d. a fee charged by a bank for opening a new account.

what is a fee waiver? *
a. the ability for an account to earn a high yield (apy).
b. a way to avoid monthly fees
c. the process of getting a sign - up bonus when opening an account.
d. a requirement to maintain a high minimum balance in your account.

Explanation:

Question 1: What is a Sign Up Bonus?

• Option A describes a minimum deposit (not a bonus).
• Option B refers to a CD's yield (not a sign - up bonus).
• Option C: A sign - up bonus is a cash incentive from banks for opening a new savings account, which matches the definition.
• Option D describes a fee (opposite of a bonus).

• Option A is about earning yield (not related to fee waiver).
• Option B: A fee waiver is a method to avoid monthly fees, which is the correct definition.
• Option C links it to sign - up bonus (incorrect).
• Option D is about minimum balance requirement (not fee waiver).

Answer:

C. Cash bonuses offered by some banks when you open a new savings account.

Question 2: What is a Fee Waiver?