Which will most benefit you financially?

Savings that compounds interest daily

Which statement is most correct when choosing to rent or buy a home?

A benefit of renting is you can relocate as needed or wanted

What information is most useful to identify thieves?

Your full name and social security number

The key to disability insurance is to understand:

How the policy defines "disability"

When you purchase a municipal bond, you are:

Loaning money to a municipality

Be for a limited term or for life (and retirement)

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Business & Personal Finance Review (from EverFi)

15 termsStudBud Administration171 plays

Let's review some of the key ideas in the EverFi Financial Literacy unit. #financialLiteracy #personalFinance #financialPlanning

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Questions 15

Answers

1
Using the rule of 72, how long will it take savings to double if we earn 6% annual interest?
72 years
16 years
36 years
12 years
2
Which will most benefit you financially?
Savings that compounds interest daily
Savings that does not compound interest
Savings that compounds interest monthly
Savings that compounds interest yearly
3
Which statement is most correct when choosing to rent or buy a home?
Rent a home only until you can afford to buy
Buy a home because it is better than renting
A benefit of renting is you can relocate as needed or wanted
Rent a home because it is better than buying
4
The rate of yearly interest for your credit card is commonly known as:
Default rate
APR
Grace period
COD
5
The main trade-off that investors must all consider is:
risk versus return
income versus cost
stocks versus bond
diversity versus uniformity
6
What is the form your employer is required to send you before you file your tax returns
1040EZ
Pay stub
W-2
W-4
7
Which of the following could potentially damage your credit score?
Paying a roommate back
Paying a credit card bill late
Opening a new checking account
A speeding ticket
8
What information is most useful to identify thieves?
Your full name and phone number
Your full name and address
Your full name and social security number
Your social security and phone numbers
9
The form filed by students to receive federal financial aid for school is known as:
FAFSA
FAA
FASFA
FICO
10
The key to disability insurance is to understand:
How the policy defines "disability"
How the policy defines payments
If there is a waiting period
If there is a grace period
11
Which of the following typically has the lowest fees and costs to use?
Cash advance
Payday loan
Debit card
Credit card
12
Renters need to complete a _____ to document their property when they buy renters insurance
Inventory
1040EZ
Receipt
1040 long form
13
What is an advantage of a federal student loan?
Fixed interest rate
These loans do not accumulate interest
Must be paid back while you are in school
Only available for demonstrated need
14
When you purchase a municipal bond, you are:
Investing in an index fund
Loaning money to a municipality
Buying a portion of that municipality
Diversifying your portfolio
15
Life insurance can:
Be for a limited term or for life (and retirement)
Is only for a term and then there is nothing
cover us even when we stop paying our premiums
Be used as a disability plan or to save for a home

Business & Personal Finance Review (from EverFi) Flashcards | StudBud