EF Module 1

EF Module 1

10th - 12th Grade

11 Qs

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Assessment

Quiz

Other

10th - 12th Grade

Hard

Created by

Jennifer Coe

Used 27+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Interest is:

a charge for lending money to a bank
the amount owed for borrowing money
the amount added into your savings when opening a bank account
a charge for the convenience of accessing money stored in your bank account 

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Anthony is deciding between different savings accounts at his bank. He has four options, based on how frequently interest compounds. Which should he choose if he wants the best rate of return on his interest? 

Annual Compounding 
Semi-Annual Compounding
Monthly Compounding
Daily Compounding

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Tamara has $500 she is looking to save for a class trip. She wants to earn the most possible interest and will not need access to her money for a full year. Which type of savings account will be best for Tamara?

Checking Account 
Savings Account
Money Market Account
Certificate of Deposit (CD)

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Which of the following is a type of savings vehicle?

Checking Account 
Savings Account
Money Market Account
Both Certificate of Deposit AND Money Market Account

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Which type of account typically has very high liquidity, low or no interest, and low minimum balance?

Investment Retirement Account (IRA)
Certificate of Deposit (CD)
Money Market Account
Checking Account 

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Which of the following is the most important consideration when planning your budget?

Budget for your needs before your wants. 
Budget for unexpected events in before expected expenses.
Budget for fixed expenses before flexible expenses
Budget for expected events before unexpected expenses.

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Which of the following is considered a "want"? 

Designer Sneakers 
Socks
Shoes 
A warm winter coat

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