What is the definition of the 50-30-20 Method?
EVERFI: Financial Literacy® for High School Terms

Quiz
•
Information Technology (IT)
•
10th Grade
•
Medium
BYRONELLE WILLIAMS
Used 2+ times
FREE Resource
60 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A type of insurance purchased by vehicle owners
A budgeting method that allows an individual to spend 50 percent on needs, 30 percent on wants, and 20 percent on savings.
A plan for income and expenses during a set period.
An account into which a sum of money is deposited for a specified length of time.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term matches the following definition? 'A type of insurance purchased by vehicle owners to protect them against financial loss in the event of an accident or theft.'
Auto insurance
Bank
Budget
Check
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A for-profit financial institution that is federally licensed to receive deposits and issue loans is called a ________.
Bank
Credit Union
Insurance Company
Brokerage Firm
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Any perk offered to an employee in addition to a salary is known as:
Budget
Benefits
Cash
Career
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A type of insurance that helps pay for someone else's emergency services and medical care if the person causes a car accident is called ________.
Bodily injury liability
Collision coverage
Comprehensive insurance
Personal injury protection
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A plan for income and expenses during a set period is called a ________.
Budget
Invoice
Receipt
Contract
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An account into which a sum of money is deposited for a specified length of time, typically paying higher interest rates than standard savings and checking accounts, is called a ________.
Certificate Of Deposit (CD)
Money Market Account
Savings Bond
Checking Account
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