Everfi Future Smart Review

Ashley wants to make a purchase using the money in her checking account. What method of payment should she use to access these funds immediately and directly?

• Credit Card

• Debit Card

• Direct Deposit

• Prepaid Card

Which of the following would be considered a want rather than a need for most people?

• Warm clothes in the winter

• A place to live

• A smartphone

• Nutritious Food

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

• Repairing damage to other cars if they got into an acciden that was their fault

• Repairing damage to their own car if they got into an accident that was their fault

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

• All of the above

What is the first step you should take when you want to open a savings account?

• Go to the bank and fill out an application

• Review the different account options that your bank offers

• Present your photo ID to the bank representative

• Make your initial deposit

Which of the following is NOT a successful budgeting strategy?

• Keep some extra money in your budget for emergencies

• Pay with a credit card if you have a hard time sticking to a budget

• Think about which items are your most important needs

• Revisit your budget regularly and make adjustments

What is the problem with paying only your minimum credit card balance each month?

• It lowers your credit score

• You have to pay interest

• The bank will cancel your credit card

• All of the above

Which interest-bearing account is best for people who won’t need access to their money for more than a year?

• Savings Account

• Checking Account

• Certificate of Deposit

• Credit Card

Which career is least likely to be impacted by poor economic conditions?

• Salesperson

• Restaurant Manager

• Construction Worker

• Nurse

What is a premium?

• The amount you pay the insurance company for coverage

• The amount you are personally required to pay before you 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

The opportunity cost of earning an advanced college degree is that:

• You will earn more income during your career

• You will earn less money during the years that you are in college

• Some fields require a professional degree before you can begin working

• There may be a low supply of jobs in your professional field