WorksheetsEverfi Future Smart Review
Total questions: 20
Worksheet time: 10mins
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
If you are trying to reduce the cost of college, which of the following strategies is likely to save you the most money?
Attending an in-state public university
Attending a private college
Purchasing used books
Living in an off-campus apartment
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 is NOT a benefit of putting money in a savings account?
You can make frequent withdrawals
You can earn interest
It is harder to spend the money
The money is safe and secure
Which of the following is the best reason to use cash for purchases?
Getting more from the ATM is easy to do
Keeping track of how much you have spent is simple
Splitting bills with friends is easier
Losing it won’t be a big deal
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
A ________________ is usually paid on a biweekly or monthly basis for professional employment.
Salary
Stipend
Wage
Benefit
Which of the following is NOT true of a budget?
Budgets help you plan how to spend money you earn or receive
Once a budget is set, it should not be revisited
A budget can include charitable giving
Budgets include both income and expenses
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
The average price of a gallon of milk increased from $3.00 last year to $3.50 this year. This is most likely due to ______________________.
inflation
the stock market
deflation
the market basket
You received $50 as a birthday gift and chose to spend it on new wallpaper for your room. The opportunity cost of this decision is:
The price of the wallpaper you bought
The other items you could have purchased with your $50
The time you could have spent doing other things
All of the above
