EverFi Modules 1-6

A business owner is taking in about $2,000 in revenue every month, what does the term REVENUE mean?

• Total bills paid

• Money earned from sales

• Product

A gallon of milk used to cost .25 in the 90's, now it costs $2.50, what is the reason for this?

• Inflation

• Deflation

• Greed

You buy your first car! You now are making a fixed payment to the car insurance company each month. What is the term FIXED referring to?

• Unfair

• The amount changes frequently

• The amount does not change

Each month you set aside money for variable expenses, such as entertainment and emergencies. What does the term VARIABLE refer to?

• Unnecessary

• subject to change

• stays the same

"A dollar doesn't go far as it used to". Why is that?

• Inflation

• Deflation

• Corporations

Which of the following statements about buying and selling stocks is TRUE?

• A stock exchange is the physical space where stocks are traded

• It is illegal to buy stocks online

• Stock prices stay the same most of the time

• In order to sell a stock, you must have at least 1,000 shares

What is a premium?

• The amount you pay the insurance company for coverage.

• The amount you are required to pay before your insurance covers the cost.

• A fixed fee you pay for specific medical services.

• The most you have to pay for health care in a full year.

If a person has liability insurance, what would they be covered for?

• Repairing damage to other cars if they got into an accident that is their fault.

• Repairing damage to their car that was caused by storms or theft.

• Both

What is the best strategy for avoiding credit card interest?

• Skip payments

• Pay the full balance each month

• Move to Costa Rica, change your name to something they will never guess- like Calendar McKee. Then, after about 15 years when the company forgets about the debt, move back but not to the same address and don't change your name back. Live in North Dakota for a while, they will never find you there. Once the coast is clear you can move back home and spend time reuniting with your family.

• Make payments online

Which factor has the biggest impact on a credit score?

• Length of credit

• Amount owed

• Payment History

• Type of credit