Future Business Leaders of America (FBLA) Personal Finance Practice Test

Which of the following is a common use of a safe-deposit box?

1. For storing everyday cash

2. For storing jewelry and important documents

3. For holding stock certificates

4. For monthly bank statements

The correct answer is: For storing jewelry and important documents

A safe-deposit box is a secure storage option provided by banks and financial institutions, specifically designed to keep valuable items safe from theft, loss, or damage. Storing jewelry and important documents is a common use because these items often hold significant monetary and sentimental value. The controlled access and limited availability of a safe-deposit box provide peace of mind, knowing that these treasured possessions are protected in a secure environment. In contrast, everyday cash is typically best kept in a checking or savings account for easy access and transactional needs. Stock certificates can be important as well, but electronic documentation has made their physical storage less common these days. Monthly bank statements are generally stored electronically or can be kept at home since they do not require the level of security that a safe-deposit box provides. Thus, the safest and most appropriate use of a safe-deposit box is for high-value items like jewelry and crucial documents.