EverFi Financial Litersy For High School Students Modules Check

Why should you work to be an informed consumer?

• To stay informed about trends

• To get the most value for your money

• To ensure you pay the right sales tax

• To spend the least amount of money

Which of the following is accurate about the benefits and risks of using credit cards to make purchases?

• Credit cards come with fraud protection, but credit card numbers can be copied by identity thieves.

• While credit cards are accepted almost everywhere, they put you at higher risk of being overcharged at the cash register.

• Credit cards allow you to pay for items later, but may cause you to miss out on better deals.

• Credit cards allow you to spend as much as you want, but are not accepted for most transactions.

How is money divided using the 50-30-20 Method?

• Needs, wants, savings

• Needs, stocks, bonds

• Savings, expenses, emergencies

• Wants, needs, retirement

Tags

CCSS.7.RP.A.3

CCSS.7.RP.A.2

What can a budget help you do?

• Prioritize expenses and track spending

• Track spending and increase your income

• Use credit and prioritize expenses

• Increase your income and use credit

Tags

CCSS.HSA.SSE.A.1

CCSS.HSA.CED.A.2

How can a budget help you reach your financial goals?

• Budgeting helps track spending and increases savings.

• Budgeting reduces credit card interest rates.

• Budgeting can help you make smart investments.

• Budgeting allows you to earn more money over time.

Tags

CCSS.7.RP.A.3

CCSS.7.EE.B.3

CCSS.7.NS.A.3

CCSS.7.RP.A.2

CCSS.7.NS.A.1

Overdraft protection helps you cover a purchase in your checking account ___________.

• when you lost your debit card

• when you don't have enough funds

• only if you are investing with your money

• only if you are paying with a mobile payment app

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

What is the benefit of a savings account? ANSWER OPTIONS

• A savings account helps you track your spending.

• A savings account creates investment opportunities.

• A savings account allows you to borrow money.

• A savings account earns interest.

Tags

CCSS.7.RP.A.3

Why do financial institutions offer you higher interest rates for Certificates of Deposit (CDs)?

• They are paying you back for fees and interest that you have prepaid.

• The interest you earn is only borrowed and must be repaid at the end of the term.

• You must keep your money in the account for a set amount of time.

• You'll be required to invest your interest funds with the same institution.

Which best describes the difference between secured and unsecured loans?

• Secured loans require collateral, while unsecured loans do not

• Secured loans usually have higher interest rates than unsecured loans

• Secured loans do not appear on your credit report, while unsecured are reported

• Secured loans have more flexible payment plans than unsecured loans

A positive return on investment for education happens when _____.

• your earnings potential is higher than the cost of your education

• you calculate earnings after working for one year after college

• you attend a public university and do not take out loans

• you use federal student loans to attend a private college

Tags

CCSS.HSA.SSE.A.1