Everfi Lesson 1 and 2 Review

When reading product reviews online, what label can help you know the reviewer actually bought the item?

• Influencer recommendation

• Paid review

• Verified purchase

• Affiliate link

What is a unit price?

• The price of buying something in bulk

• The cost per individual unit (such as ounce or item)

• The cost including tax

• The average rating of a product

Why is it smart to have more than one payment method when shopping?

• So you can spend more without limits

• Because stores prefer credit cards

• Different methods offer flexibility and safety

• To increase your credit card rewards

Which of the following are things a skilled consumer does?

• Research before buying, buy only from clearance sales, avoid using credit, consider unit prices

• Research before buying, buy only what you need, consider unit prices, choose the best payment method

• Buy only what you need, shop locally, avoid using credit, buy only from clearance sales

• Buy only from clearance sales, pay in cash, consider unit prices, buy only local goods

What is the difference between wants and needs?

• Wants are necessary for survival; needs are optional.

• Needs are entertainment-related; wants are food-related.

• Wants are things you must have; needs are extras.

• Wants are things you’d like to have; needs are things you must have to survive.

Which list describes needs?

• Shelter, warmth, food

• Electronics, food, shelter

• Entertainment, electronics, food

• Warmth, entertainment, shelter

Which of the following correctly matches the time frame with the goal type?

• Less than a year = long-term goals

• 1–5 years = short-term goals

• More than 5 years = long-term goals

• Less than a year = mid-term goals

What does “pay yourself first” mean?

• Buy fun things before paying bills.

• Save money after spending on everything else.

• Put money toward needs and savings before other spending.

• Wait until the end of the month to see what’s left to save.

How does the envelope method work?

• You put money in envelopes and spend until each is empty.

• You track spending using mobile banking only.

• You put envelopes in savings for long-term growth.

• You divide money based on 50% needs, 30% wants, 20% savings.

What does the 50-30-20 budgeting method recommend?

• Spend 30% on needs, 50% on wants, and 20% on savings.

• Spend 50% on needs, 30% on wants, and 20% on savings.

• Spend 20% on needs, 50% on savings, and 30% on wants.

• Spend 30% on savings, 30% on needs, and 40% on wants.