Let's see if you remember some key ideas from the chapter. Answer the following with true or false.

You can add money to a time deposit but not withdraw from it.

• True
• False

Time deposits are insured up to P500,000 by the PDIC.

• True
• False

You can get a time deposit through a bank or an insurance company.

• True
• False

Pre-terminating a time deposit reduces the money you might earn.

• True
• False

Time deposits aren’t predictable in terms of growth.

• True
• False

Time deposits have a high potential for earning money.

• True
• False

You may find time deposit products with different terms and interest rates across different banks.

• True
• False

You should make sure that you won’t need the money you’ll put in a time deposit.

• True
• False

It’s best to have the full amount ready before you open a time deposit.

• True
• False

Doing your research before committing to a time deposit won’t affect your potential experience.

• True
• False