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Everfi Financial Literacy Flashcards | StudBud
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Everfi Financial Literacy
Everfi Financial Literacy
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Questions from Everfi to test your financial knowledge!
Flashcards
20 cards
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Questions
20
Answers
1
The set of numbers on the top-right of the check represents the:
member number
check number
bank account number
the bank routing number
2
How long it will take for your money to double if it’s earning 6% in interest (Use Rule of 72)?
36 yrs
16 yrs
12 yrs
72 yrs
3
Which of the following typically has the lowest fees or costs to use?
Payday loan
Debit card
Cash advance
Credit card
4
Which of the following is an advantage of federal student loans?
Federal student loans do not accumulate interest.
Fed. student loans must be paid back while you're in school.
Gov. student loans are only available to those who need it
Federal student loans have a fixed interest rate.
5
Annual Membership Fee: $0. What is the annual fee for this card?
$29
$39
$5
$0
6
Which type of bank account typically offers no interest?
Money market
Certificate of Deposit
Savings
Checking
7
Your credit history is tracked by all of the following EXCEPT:
Trans Union
Experian
Federal Reserve
Equifax
8
How long it will take for your money to double if it’s earning 8% in interest (Use Rule of 72)?
10 years
9 years
7 years
8 years
9
how many free credit reports are you legally entitled to each year?
Three credit reports from each credit bureau
one credit report from each credit bureau
three credit reports each year
One credit report each year
10
Which will most benefit you financially?
A savings account that does not compounds interest
A savings account that compounds interest yearly
A savings account that compounds interest daily
A savings account that compounds interest monthly
11
What are the responsibilities of a renter versus an owner?
A house owner has utter responsibility and control over it
Renters have complete responsibility and control over homes.
Both have equal responsibility and control over a home.
A house is completely controlled by the government
12
Jan pays $70 each month for her auto insurance policy. This regular payment is called a:
claim
co-pay
premium
deductable
13
Which of the following could potentially damage your credit score? (2 possible answers)
Ignoring a late payment notice
Paying a credit card bill late
Opening a checking account
Paying a roommate back
14
Which of the following are examples of types of savings vehicles? (3 possible answers)
Money Market Account
Checking Account
Certificate of deposit (CD)
Savings Account
15
Which of the following are NOT deducted on a typical pay stub:
medicare tax
State income tax
Sales tax
Social security tax
16
The period before you have to begin repaying your student loans is known as the:
default period
promotional period
zero interest period
grace period
17
Which of the following typically have the highest fees?
Credit Union
Retail Bank
Online Bank
Payday Lender
18
0% your first 12 bills. After that, 18.25%. What's the APR on purchases after 12 months?
36.5%
5.65%
27.357%
18.25%
19
Good credit is usually required for which of the following (2 possible answers):
Buying new furniture
Purchasing a home
Buying a new car
Adopting a pet
20
A sim earns $250 per month but spends $275 a month. Which statement below is most correct?
Asim should stop saving in the future.
Asim makes more than she spends.
Asim spends more than she makes.
Asim should save more in the future.
