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True or False: Cashing in Savings Bonds
by Staff
Imagine going to the bank to cash in several years of savings bonds from Grandma -- only to find that you can't. It's entirely possible -- but test yourself to see if you would've avoided that fate. It's all the excitement of cashing in savings bonds packed into quiz form!

A savings bond is not marketable or transferrable. No one but the original purchaser can cash in a savings bond.

  • true
  • false

Series E savings bonds are the most current and common type.

  • true
  • false

A savings bond is worth its face value when it's purchased, then that value increases over the term of the bond.

  • true
  • false

You can buy up to $1 million in savings bonds per year.

  • true
  • false

The different series letters on savings bonds are just administrative. The series are all the same.

  • true
  • false

Savings bonds increase in value the longer you hold them, until they mature.

  • true
  • false

It's easy to find out how much your bonds are worth using the tables at the U.S. Treasury Web site.

  • true
  • false

Savings bonds were first introduced to help fund the War of 1812.

  • true
  • false

You can redeem a savings bond at any bank.

  • true
  • false

A driver's license is sufficient to establish identity when cashing in a bond.

  • true
  • false

Kids can't redeem bonds until they have a driver's license.

  • true
  • false

The executor of your estate can redeem your savings bonds after you die.

  • true
  • false

It's possible to add a beneficiary to a savings bond so that a friend or relative can redeem it after you die.

  • true
  • false

If a bond is redeemed less than five years from the issue date, all interest is forfeited.

  • true
  • false

Most bonds can't be redeemed within one year of the date when they were issued.

  • true
  • false

Some of the rules of cashing in a savings bond change if you've been affected by a natural disaster.

  • true
  • false

Paper bonds and electronic bonds are exactly the same.

  • true
  • false

Paper bonds can be purchased in any amount.

  • true
  • false

Series EE bonds purchased before 2005 have variable interest rates.

  • true
  • false

You don't need the bond itself to cash it, as long as you know the serial number.

  • true
  • false