Career Qualified in Banking (CQiB) Certification Practice Exam

A checking account is primarily designed for frequent deposits and withdrawals, making it highly accessible for day-to-day transactions. These accounts typically come with features such as check-writing capabilities, debit card access, and online banking services, which facilitate regular use for various financial needs, including paying bills, making purchases, and managing everyday expenses.

In contrast, other types of accounts serve different purposes. For instance, a savings account generally aims to accrue interest and is not intended for frequent transactions, while investment accounts focus on buying securities like stocks and bonds and may involve higher risks and potential returns. Finally, an account solely for holding cash reserves would lack the liquidity and user-friendly features that define a checking account. Therefore, option A accurately captures the essential characteristics of a checking account.