Duplicate of Everfi Financial Literacy

Question 1

Which of the following are NOT deducted on a typical pay stub:

Accepted Answer

Sales tax

Question 2

Jan pays $70 each month for her auto insurance policy. This regular payment is called a:

Accepted Answer

premium

Question 3

Which of the following could potentially damage your credit score? (2 possible answers)

Accepted Answer

Paying a credit card bill late, Ignoring a late payment notice

Question 4

Which will most benefit you financially?

Accepted Answer

A savings account that compounds interest daily

Question 5

Which of the following typically has the lowest fees or costs to use?

Accepted Answer

Debit card

Question 6

Good credit is usually required for which of the following (2 possible answers):

Accepted Answer

Buying a new car, Purchasing a home

Question 7

how many free credit reports are you legally entitled to each year?

Accepted Answer

one credit report from each credit bureau

Question 8

Which of the following is an advantage of federal student loans?

Accepted Answer

Federal student loans have a fixed interest rate.

Question 9

What are the responsibilities of a renter versus an owner?

Accepted Answer

A house owner has utter responsibility and control over it

Question 10

A sim earns $250 per month but spends $275 a month. Which statement below is most correct?

Accepted Answer

Asim spends more than she makes.

Question 11

How long it will take for your money to double if it’s earning 8% in interest (Use Rule of 72)?

Accepted Answer

9 years

Question 12

Which type of bank account typically offers no interest?

Accepted Answer

Checking

Question 13

Your credit history is tracked by all of the following EXCEPT:

Accepted Answer

Federal Reserve

Question 14

The period before you have to begin repaying your student loans is known as the:

Accepted Answer

grace period

Question 15

How long it will take for your money to double if it’s earning 6% in interest (Use Rule of 72)?

Accepted Answer

12 yrs

Question 16

The set of numbers on the top-right of the check represents the:

Accepted Answer

check number

Question 17

Which of the following typically have the highest fees?

Accepted Answer

Payday Lender

Question 18

Which of the following are examples of types of savings vehicles? (3 possible answers)

Accepted Answer

Money Market Account, Certificate of deposit (CD), Savings Account

Questions 18