EverFi - Financial Literacy

Question 1

How often are you entitled to a copy of your free credit report from major reporting companies?

Accepted Answer

yearly

Question 2

(Check all that apply) Which of the following are examples of types of savings vehicles?

Accepted Answer

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

Question 3

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

Accepted Answer

grace period

Question 4

Which of the following drivers will likely pay the highest auto insurance premium?

Accepted Answer

younger, inexperienced drivers

Question 5

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

Accepted Answer

debit card

Question 6

Which will most benefit you financially?

Accepted Answer

savings account that compounds interest daily

Question 7

When you purchase a municipal bond, you are:

Accepted Answer

loaning money to a municipality

Question 8

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

Accepted Answer

grace period

Question 9

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

Accepted Answer

Federal Reserve

Question 10

By which date must federal taxes typically be filed and sent to the IRS?

Accepted Answer

April 15

Question 11

When buying a stock in a company, you are:

Accepted Answer

buying a portion of a company

Question 12

The main trade-off that all investors must consider is:

Accepted Answer

risk vs. return

Question 13

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

Accepted Answer

federal student loans have a fixed interest rate

Question 14

Diversification is important in investing because:

Accepted Answer

it balances your risk across different investment types

Question 15

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

Accepted Answer

federal student loans have a fixed rate

Question 16

What piece of information is most useful to an identity thief?

Accepted Answer

your full name and social security number

Question 17

Which of the following provides the best protection against identity theft?

Accepted Answer

shred documents that contain personal information

Question 18

Which form is your employer required to send to you before you file your tax return?

Accepted Answer

W-2

Question 19

The form filed by students to receive federal financial aid for school is known as:

Accepted Answer

FAFSA

Question 20

Borrowing a subsidized federal student loan means:

Accepted Answer

gov't pays interest on the loan until 6 months post graduate

Question 21

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

Accepted Answer

Buy or rent a home based on your individual circumstance

Question 22

Which of the following statement is most correct regarding the benefits of home ownership?

Accepted Answer

A benefit of owning a home is that the value may appreciate

Question 23

(Check all that apply) Good credit is usually required for which of the following:

Accepted Answer

Buying a new car, getting a credit card, Purchasing a new car

Question 24

Which step best protects your credit history if you suspect fraud? Who should you contact?

Accepted Answer

the credit bureaus and report suspected fraud

Question 25

Which of the following typically have the highest fees?

Accepted Answer

Payday Lender

EverFi - Financial Literacy

Questions 25

EverFi - Financial Literacy

Questions 25