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Everfi FutureSmart Flashcards | StudBud
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Everfi FutureSmart
Everfi FutureSmart
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Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
Which interest-bearing account is best for people who won’t need access to their money for more than a year?
d. Credit Card
a. Savings Account
b. Checking Account
c. Certificate of Deposit
2
Aaron wants to open a savings account. Which account will grow his money the most?
Account 3 - Interest rate 2%, Interest compounded semi-annually
Account 4 - Interest rate 1%, Interest compounded annually
Account 2 - Interest rate 1%, Interest compounded daily
Account 1 - Interest rate 2%, Interest compounded daily
3
the loss of potential gain from other alternatives when one alternative is chosen
opportunity cost
expense
need
want
4
Things that are essential to your health and security are known as...
expenses
needs
opportunity costs
wants
5
Why might a stock become more vaulable over time?
there is a lot of demand for the product
the industry is growing
the company is well managed
all of the above
6
A salary is an hourly payment for an employee
True
False
7
a number that represents how responsible you are with money is a...
credit score
opportunity cost
wage
Salary
8
APR stands for
Annual Percentage Rate
A Pretty Rail
Annual Percent Rap
Annual Prehistoric Rats
9
The unit price for a 6-pack of drinks that cost $2.99 is about $1 per drink.
True
False
10
Money we receive is called...
expenses
income
11
A fee you are charged when borrowing money is called...
wage
interest
need
want
12
What is the best strategy for avoiding credit card interest?
d. Make payments online
b. Skip payments
a. Pay the full balance each month
c. Pay the minimum balance
13
Things that make life fun and interesting, but are not essential are known as...
wants
expenses
needs
opportunity costs
14
You plan for how you will spend your money is called a...
expense
stipend
wage
budget
15
What is the first step you should take when you want to open a savings account?
c. Present your photo ID to the bank representative
b. Review the different account options that your bank offers
d. Make your initial deposit
a. Go to the bank and fill out an application
16
Which factor has the biggest impact on a credit score?
c. Amount owed
d. Length of credit
b. Type of credit
a. Payment History
17
The price of milk increased by $0.50 since last year. This is likely due to...
a. Inflation
c. Deflation
d. The market basket
b. The stock market
18
The most direct way for Jonathan to gain on-the-job experience and earn money while attending school is to apply for:
a. Federal financial aid
c. A work-study program
b. Scholarships
d. A private loan
19
What are loans to a company or government for a set amount of time?
stocks
mutual funds
bonds
deposits
20
This is withheld from a paycheck and is used to fund government services
b. Medicare
a. Federal Income Tax
d. State Income Tax
c. Social Security
21
PYF stands for
Pay Yourself First
Pay Yourself Five
Pay Yourself Fifty
Pay Your Friend
22
What is the first thing you should do when career planning?
a. Apply for as many jobs as possible
b. Have a mock interview with a family member or friend
d. Sign-up for an internship
c. Make a list of your job preferences and skills
23
What is a premium?
a fixed fee you pay for specific medical services
the most you have to pay for healthcare in a full year
the amount you are required to pay before your insurance covers the cost
the amount you pa the insurance company for coverage
24
expenses that change over time are called...
variable expenses
opportunity costs
values
fixed expenses
25
The amount of pay you take home after taxes is known as your
wages
net pay
salary
stipend
26
A _________ is a fixed amount you are paid for work.
stipend
expense
tutor
wage
27
A small piece of ownership in a company is called...
derivative
bond
stock
mutual fund
28
What is the problem with paying only your minimum credit card balance each month?
The bank will cancel your credit card
You have to pay interest
All of the above
It lowers your credit score
29
The opportunity cost of earning an advanced college degree is that:
c. Some fields require a professional degree before you can begin working
d. There may be a low supply of jobs in your professional field
a. You will earn more income during your career
b. You will earn less money during the years that you are in college
30
Which of the following is NOT an example of a job skill?
b. Working well in groups
a. Attending work every day
c. Being good with computers
d. Being creative
