EVERFI Quiz

Which of the following institutions typically have the highest fees?

• Check Cashing Companies

• Banks

• Credit Unions

• Internet Banks

Which type of bank account typically offers the least (if any) interest back?

• Savings Account

• CD Account

• Checking Account

• 529 Account

A savings account the compounds interest ____________ will earn the most money overall

• Yearly

• Monthly

• Weekly

• Daily

Which of the following statements about savings accounts is FALSE?

• Savings accounts pay interest on the money you borrow

• Savings accounts limit the amount of withdrawals per month

• Savings accounts do not require a minimum balance

• Savings accounts are used to store money for long term goals

A ________ represents a share of ownership in a company

• Stock

• Bond

• Mutual Fund

• Money Market Account

Which of the following statements about investing is TRUE?

• Investing is great for short term goals

• Investing is safer than putting money in a savings account

• Investing guarantees a certain level of return

• Investing is a high risk/ high return option compared to a savings account

A __________ is a collection of many different stocks. It is intended to provide diversity of investment

• Stock

• Bond

• Mutual Fund

• CD

There is no relationship between level of education and lifetime earnings.

• True

• False

Which of the following is NOT a possible tax or deduction that could show up on a paycheck?

• State Income Tax

• Contributions to a 401K

• FICA

• Sales Tax

Why might someone lease a house instead of buying one?

• They want the ability to fix/ change the home

• They want to make money when the re-sell the home

• They plan on living in the home for a short amount of time

• They want to avoid rising rent prices and dealing with a landlord