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WorksheetsEVERFI Modules 1-4 Quiz
Total questions: 30
Worksheet time: 15mins
The entire network of producers and consumers of goods and services in a community is a _______________________.
Opportunity Cost
Economy
Supply
Demand
Which is an example of an economic indicator?
The amount of money your mom spends on supper.
The amount of money you have in your savings.
The level of unemployment in the United States.
The level of experience that your teachers have.
Interest can be:
a charge for lending money to the bank
the amount owed for borrowing from the bank
the amount added into your savings account when opening a bank account
a charge for the convenience of accessing money stored in your bank account
Which financial institution usually charges the highest interest rates on loans?
Savings & Loan Associations
Pay Day Lenders
Commercial Banks
Credit Unions
Which of the following statements comparing debit cards to credit cards is true?
Debit cards allow you to draw funds directly from your checking account
Debits cards typically offer greater fraud protections
Debit cards never require a signature to finalize a purchase
Debit cards charge a high rate of interest
Good credit is usually required for which of the following:(Check all that apply)
buying a new car
adopting a new pet
getting a credit card
buying a house
buying used furniture
The form filed by students to receive federal financial aid for school is known as:
FICO
FAFSA
FIFA
FALALA
Which of the following should you take into consideration when deciding to buy or lease a car? (Check all that apply)
Cost of the car
Car interior and features
Monthly loan payment
Down payment
Your monthly budget
Which piece of information is most useful to an identity thief?
Your full name and address
Your full name and date of birth
Your full name and social security number
Your full name and student ID number
The amount owed for borrowing money
Gratuity
Interest
Median
Is a record of a person's borrowing and repayment activity
Bank statements
Loan interest rate
Credit History
Three major credit bureaus in the United States, which tracks credit histories, creates credit reports, and calculates credit scores.
Equifax, Experian, & TransUnion
Google, Yahoo, Safari
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
Select the answer that best describes what an opportunity cost is:
The amount of money you put into savings each year
The trade-off of making one choice and giving up a different choice
The amount of money a business makes every year from sales
The benefit you gain by choosing one option versus another
If you know the unit prices of two different brands of an item, you are better able to:
Compare the prices of the two brands
Estimate how much of the item you will need
Determine which of the two brands is higher quality
Figure out the discount during a sale on the two items
What factor has the biggest impact on a credit score?
Having a variety of types of credit
The amount of money you owe on your credit cards
Your history of making payments on time
The number of years that you have used credit responsibly
Which of the following statements is TRUE:
Applying for several lines of credit in a short period of time can help boost a person’s credit score.
Paying off a credit card balance in full can have a negative impact on someone’s credit score.
The longer you use credit responsibly, the higher your credit score.
Low risk borrowers tend to have low credit scores.
Which of the following is not a source of income?
Your annual salary for doing your job
Your monthly student loan payment
The stipend you receive for doing an internship
The wages you receive after a work shift
Which of the following statements is TRUE about payday loans?
They are harder to pay back because of low fees and high interest rates
They are harder to pay back because of high fees and high interest rates
They are easier to pay back because of lower fees and higher interest rates
They are easier to pay back because of lower fees and lower interest rates
Amy's new summer job at the pool will pay her $9 per hour. Which term describes this type of hourly income?
Salary
Stipend
Wage
Benefit
Which of the following is NOT an example of a job skill?
Attending work every day
Working well in groups
Being good with computers
Being creative
