EverFi Study

Use the Rule of 72 to calculate how long it will take for your money to double if it’s

earning 6% in interest:

• 72

• 16

• 36

• 12

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

• Certificate of Deposit

• Savings Account

• Money Market Account

• All of the above

How many digits in a bank routing number?

• 8

• 11

• 7

• 9

Which type of bank account typically offers no interest?

• Checking

• Certificate of Deposit

• Money Market

• Savings

Which of the following typically have the highest fees?

• Retail Bank

• Payday Lender

• Online Bank

• Credit Union

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

• Payday Loan

• Credit Card

• Cash Advance

• Debit Card

The term referring to the rate of yearly interest for your credit card is commonly known

as:

• COD

• Grace Period

• APR

• Default Rate

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

• Trans Union

• Equifax

• Federal Reserve

• Experian

Good credit is usually required for which of the following:

• Buying a new car

• Purchasing a home

• Buying new furniture

• Adopting a Pet

Which of the following could potentially damage your credit

score?

• Opening a checking account

• Paying a speeding ticket

• Paying a credit card bill late

• Opening 3 credit cards at once