Everfi Financial Literacy Modules 1-4

Interest can be:

• a charge for lending money to the bank

• the amount owed for borrowing from the bank

• the amount added into your savings account when opening a bank account

• a charge for the convenience of accessing money stored in your bank account

Which of the following is a type of savings vehicle?

• Certificate of Deposit

• Debit Card

• Checking Account

• Cash

Which financial institution usually charges the highest interest rates on loans?

• Savings & Loan Associations

• Pay Day Lenders

• Commercial Banks

• Credit Unions

Which of the following statements comparing debit cards to credit cards is true?

• Debit cards allow you to draw funds directly from your checking account

• Debits cards typically offer greater fraud protections

• Debit cards never require a signature to finalize a purchase

• Debit cards charge a high rate of interest

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

• buying a new car

• adopting a new pet

• getting a credit card

• buying a house

• buying used furniture

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

• FICO

• FAFSA

• FIFA

• FALALA

Which of the following should you take into consideration when deciding to buy or lease a car? (Check all that apply)

• Cost of the car

• Car interior and features

• Monthly loan payment

• Down payment

• Your monthly budget

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

• Yearly paycheck stub

• 1040EZ

• W-2

• W-4

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

• Younger, inexperienced drivers

• Older, experienced drivers

• Drivers who have a safe driving records

• Drivers who travel short distances

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

• Your full name and address

• Your full name and date of birth

• Your full name and social security number

• Your full name and student ID number