Higher interest rates and lower fees

Lower interest rates and higher fees

Higher interest rates and higher fees

Lower interest rates and lower fees

Do nothing. The bank will correct the error at the end of the month.

Call the FDIC. She is insured up to $250,000.

Call the bank. The bank will investigate the transaction to see if it was an error.

Assume that it’s a transaction that she made and forgot about.

Ability to withdraw money from an ATM

FDIC insured up to $250,000

Your money earns interest

Ease of making payments using a debit card

It’s ok to open an account with a low interest rates as long as you deposit your money early

Deposit your money as early as possible in an account with the highest interest rate possible

Wait for interest rates to rise above 5%, otherwise compounding doesn’t have any effect

Compound interest will not have any effect at such a low dollar amount. Find different opportunities to earn interest on your savings.

Savings accounts are FDIC insured while certificates of deposit are not

Savings accounts allow you to access your money at all times while certificates of deposit require your money to be left alone for a set period of time

Savings accounts typically have a higher interest rate than certificates of deposit

Both savings accounts and certificates of deposit allow you to deposit money at any time

You are legally required to have overdraft protection for your account

They are charged if you fail to meet the minimum balance requirement

You are charged when more money is withdrawn from your account than it has available

They are a one-time payment made by the bank to the account holder

Meeting a monthly minimum balance requirement

Only banking online instead of using physical bank locations

Having both a checking and savings account with the same bank

Finding a bank that offers accounts with no monthly maintenance fee

Avoiding out of network ATMs

Finding a bank that reimburses you for ATM fees

Using your debit card instead of withdrawing cash to make a purchase

Withdrawing money from your savings account instead of your checking account

You cannot withdraw your money for cash

Many payroll cards charge fees

You cannot use your payroll card as a debit card

True

False

Not trusting the banking system

Not having enough available money to maintain an account

Not having a bank within close distance to your residence

Not having a credit card account from a traditional bank

Prepaid cards are a good way to build credit because they work like credit cards

Prepaid cards can have a lot of fees associated with them including transaction and loading fees

Prepaid cards are generally accepted anywhere that debit and credit cards are accepted

Prepaid cards are a viable way for the unbanked to complete online transactions

$100

$200

$500

$1,000

It helps you budget all of your income for the month

It encourages you to prioritize saving money

It is a good way to build credit

It generates additional income to cover essential expenses

3-6 days worth of expenses

3-6 weeks worth of expenses

3-6 months worth of expenses

3-6 years worth of expenses

Inflation reduces the purchasing power of saved money over time.

Inflation increases the value of saved money.

Inflation has no effect on savings.

Inflation guarantees higher returns on savings.

at least as high as the rate of inflation

lower than the rate of inflation

exactly equal to the rate of inflation

There is no relationship between saving and inflation

Saving a portion of your paycheck for emergencies

Having multiple sources of income to cover expenses

Struggling to cover your financial needs with each paycheck

Enjoying a comfortable lifestyle without worrying about money

Many banks will not let you open a savings account when you have a credit card

You will be charged a fee for every credit card transaction

Retailers mark up purchases if you use a credit card

Credit cards make it easier to spend money

Social security number

Home address

Email address or phone number

Passport number

Digital wallets facilitate sharing money within a group

Digital wallets focus on contactless transactions with businesses

Digital wallets store cash in digital form

Digital wallets provide expense tracking for making budgets

Avoid using P2P apps altogether

Share their account details with friends

Ignore all text messages from unknown numbers

Verify the authenticity of communication by contacting the bank directly

Using a person-to-person app to repay your friend for dinner

Using a mobile payment service to purchase your groceries at a store

Having your bank send your rent to the landlord each month

Having your check direct deposited into your bank account

Once you set up online banking, your bank will waive overdraft, ATM, and monthly fees

Using online banking, you can request transfers, pay bills, and automate your savings without visiting the bank branch

Online banking is the only way you can make online purchases

If you set up online banking, your bank will also file your taxes for you automatically

Only using private wifi to access your account

Turning on text alerts to monitor your account for large or potentially fraudulent transactions

Changing your password regularly using reasonably complex passwords

Banking with small banks and credit unions because they are less frequently the target of fraud

All of your needs, high priority wants, low priority wants, savings

All of your needs, savings, high priority wants, low priority wants

All of your needs, high priority wants, savings, low priority wants

Savings, high priority wants, low priority wants, all of your needs

A budget is necessary to qualify for loans and credit cards

A budget makes filing your taxes faster and simpler

A budget will help you save money and prioritize your spending

A budget will guarantee you have enough money saved for college so you won't need loans

Set aside some fun money in each month's budget so you can enjoy yourself

Auto-deposit a set amount of money into savings after each paycheck so that you don't spend all your income

Be self-employed, so that you don't have a boss and get to keep all income from your business for yourself

Do all of your budgeting at the beginning of the month, rather than at the end

Graduation present for your sister

A large car repair bill

A concert ticket

Daily Starbucks latte

Borrow money from another category that will likely have a surplus this month

Use her credit card and put extra money into the credit card envelope next month

Dip into her emergency fund to cover the shortfall

Suggest other options to her friends that don’t involve going out to eat

It provides the budget you'll use for all of your household expenses

It outlines the amount of rent you'll pay, when it is due, and key obligations and rights of living in the property

It provides insurance if any guests to your apartment are injured on the property

It makes it illegal for your landlord to evict you from the property

Electric

Water/Sewer

Gas

Rent

Monthly rent payments are always lower than monthly mortgage payments

Landlords give young people better rates on apartments than older people can qualify for

They're graduating with a lot of student debt they must pay off, so it takes longer to save a down payment

Renting is a better long-term investment strategy

Location does not impact transportation options

Urban areas offer more public transport and car sharing; rural areas rely more on having a personal vehicle

Location only affects how much someone pays for transportation, not the options they have available to them

All transportation options are universally accessible

She is not accounting for the cost of fuel, insurance, maintenance, and other potential expenses beyond her car payment

She is overestimating her budget, as $350 is more than enough to cover all car-related expenses

Joanne should not allocate any budget for auto-related costs other than the monthly payment

The mistake is in buying a new car; she should always opt for a used car

10 oranges for $10

12 oranges for $20

15 oranges for $12

20 oranges for $18

Buying whole produce instead of pre-cut

Pay someone to do your grocery shopping so you don’t make unnecessary purchases

Avoid impulse purchases made at the register like magazines or candy

Make a list and only purchase items on it

Aafia gets a 2.5% raise and inflation increase prices by 3%

Artie gets a 3% raise and inflation increase prices by 2%

Joanna gets a 4.5% raise and inflation increases prices by 4.5%

Gyasi gets a 5% raise and inflation increases prices by 3.5%

Have access to higher paying jobs

Start earning money sooner

Minimize the education costs you pay over your lifetime

Gain work experience and skills

Hard skills are difficult to learn and soft skills are easy to learn

Hard skills are technical skills and soft skills are interpersonal skills

Hard skills are needed in the trades and soft skills are needed in office jobs

Hard skills are learned on the job and soft skills are learned in school

Looking through online job boards and websites

Attending in-person networking events

Using LinkedIn to connect with people in her field

Browsing company websites for job postings

Alec will come across as too pushy or overeager for potential employers

Alec doesn’t need to do these things because he doesn’t have any prior experience

Alec will show that he is engaged and that he cares

Alec is ensuring he will receive priority over other applicants

Benefits

Qualifications

Job description

List of current applicants

Include a photo of you looking professional

Detail your accomplishments in at least 2-3 pages

Use a casual and personable tone

Highlight your most relevant skills and experience

It lists your relevant work history, skills, and education

It highlights your personal story and interest in the position

It is always required as a part of the application process

Add his email address to the header

Replace his school name with his personal address in the header

Rewrite his objective to be more formal without using “I”

Format his experience section as a paragraph instead of bullet points

When you enter the room with your interviewer

When the interviewer has let you know the interview has started

After you’re past security, but before you meet the office assistant

As soon as you encounter anyone in/around the organization you’re interviewing with

Send a thank you note to each person who interviewed you

Make a thoughtful, relevant post about your industry on social media

Send a message to your interviewers asking if you’ve gotten the job

Find a link to an article or news story about a topic you discussed in your interview and send it to your interviewers

Situation, Task, Action, Result

Situation, Task, Action, Recollect

Setup, Task, Action, Result

Setup, Think, Action, Result

Conduct research on the lowest, highest, and the average salary for the position

Contact the employer stating the highest and lowest salary range you are expecting

Update your resume to include more professional accomplishments

Print off three months of bank statements to use as a reference during negotiations

Adina’s employer guarantees a fixed rate of return on her 401(k) investments

Adina’s employer will contribute money to her 401(k), based on how much she contributes

Adina’s employer offers a low-interest personal loan using her 401(k) as collateral

Adina’s employer will split her paycheck evenly between her checking account and her 401(k)

Conferences are a good way to expand your network

Conferences provide an opportunity to take an extended vacation

Conferences allow you to spend time away from work without repercussions

Conferences guarantee a salary raise upon return to work

Clothing or accessories

Sports gear

Pet related items or services

Home goods

Consumers may decide to purchase something they don’t necessarily need

Certain products may go out of stock in record time due to buying trends driven by social media

Influencers always use credible sources when making recommendations and sharing information with their followers

Social media can repeatedly show a consumer advertisements for products they were looking at

Delete all of his social media apps immediately to avoid spending

Schedule time for him to binge use social media three times a year. Otherwise, he stays logged out of his accounts.

Have a friend or family member frequently change his social media account passwords to decrease how often he logs in

Curate his feed so that he sees fewer posts from friends, family, and influencers who make him feel like he needs to spend more

Authority

Scarcity

Bribery

Liking

James passes the same store on his walk to school every day, and the manager always waves hello

Katelyn bought concert tickets at the local arena and now gets a daily email with “Arena events today” without an unsubscribe link

Suzuki signed up for a yearly magazine subscription and after 11 months gets a reminder that it is expiring soon

Darrell used a credit card to buy a new pair of pants, and the next week he finds a $350 charge for clothing at the same store

Comparing a product you bought to a similar product a friend bought

Comparing a product you purchased in the past to an updated version of that product

Comparing the prices of two unrelated products before purchasing them

Comparing the price, reviews, and other factors of similar products prior to making a purchasing decision

Finding a product that fits within your budget

Reading a user review that provides insight into the quality of the product

Getting a guaranteed discount that reduces the price by 15% or more

Buying a product that best meets the criteria that are important to you

Put a freeze on your credit if you’re not opening any accounts soon

Check your credit report at least once a year

Avoid using any online banking or shopping services

Create different passwords for different accounts

Identity theft cases have been steadily increasing in the U.S.

Identity theft is no longer a concern in the U.S.

Identity theft only affects businesses, not individuals, in the U.S.

Identity theft rates have dropped to zero in recent years in the U.S.

Dial 911 and report an emergency with the police department

Cancel all your credit cards and close your bank accounts

Call all the stores you visited to ask if they saw anyone or anything suspicious

Put a freeze on your credit and file an identity theft report with the FTC

A hotel receptionist asks you to verify the first and last name on your hotel reservation before giving you the key

You call your doctor’s office and the nurse asks for your medical record number

The IRS calls you and asks you to make a tax payment in the next 24 hours

You receive coupons through a monthly email you subscribed to for your favorite online shopping website

Wait for their next credit card statement to verify that the payment went through

Attempt to contact the scammer to get them to reverse the transaction

Shred their credit card and limit purchases for the next 10 days

Call their bank and ask them to reverse the transaction and get their money back

A business stresses recruitment of new members over sales of a product

A business hires three new people for its executive team

A business posts on social media to promote its new product

A business pays its employees an annual bonus at the end of the year

True

False

True

False

They receive a low deductible and a low monthly payment

They receive a low deductible and a low coverage limit

They receive a low deductible and a high coverage limit

They receive a low deductible and a high risk assessment

Risk pooling eliminates everyone who files expensive claims and makes them uninsurable

Risk pooling creates large groups to spread the risk level out while maximizing the amount of premiums that can be collected

Risk pooling provides every insured person with a monthly check, called a premium, so they can pay whatever bills they need

Risk pooling is a low-cost way for everyone to save their premiums in a saving account to use later

Karishma pays $$0, while the insurance company pays$$ 500

Karishma pays $$0, while the insurance company pays$$ 9,000

Karishma pays $$500, while the insurance company pays$$ 8,500

Karishma pays $$500, while the insurance company pays$$ 24,500

Uninsured/underinsured motorist

Collision

Comprehensive

Liability

The insured driver causes an accident where another person is injured

The insured driver causes an accident where another’s property is damaged

The insured driver is a victim of an accident and needs to replace their own car

The insured driver is a victim of an accident and needs to pay their own medical bills

Loss of use

Personal Property

Liability

Dwelling

The cost of a lawsuit if someone sues you for injuries they got on your property

The cost of repairing the physical structure of your home

The cost of floods and earthquakes not covered by a standard policy

The cost of replacing personal property that you, yourself, damage within your home

Abigail, who lives with her parents and commutes to college

Beatrice, who is a freshman living in a dorm and whose mom has homeowners insurance

Carson, who is a senior living in a dorm and whose guardians have homeowners insurance

Dani, who lives in an off-campus apartment with her cousin and a friend

A deductible is paid monthly, while an out-of-pocket max is paid only if you see a doctor

A deductible is paid by the insured person, while an out-of-pocket max is paid by the insurance company

A deductible is the minimum the insured person pays before insurance kicks in, while the out-of-pocket max is the most the insured person pays for care

A deductible is used for doctor’s visits, while the out-of-pocket max is used for hospital visits

Copay

High deductible health plan

HMO

Platinum plan

In most states, you cannot see a doctor if you do not have health insurance

You never know when an unexpected illness or injury is going to require expensive care

You are fined money by the federal government for not having health insurance

If you buy health insurance, you do not have to buy auto insurance, so it actually saves you money

Their employer will select a specific health care plan the employee can access, and the employer will have to pay all of the costs

Their employer will offer a specific plan or plans the employee can access, and the employer will pay at least half of the cost

Their employer must offer an on-site doctor’s office at the workplace and will cover full costs of coverage at that location

Their employer will sign them up for an appropriate plan on the federal Marketplace

CHIP

Medicaid

Freedom to choose the plan that works best for you and your family

Guaranteed coverage of 10 essential benefits

Ability to add your dependent family members at additional cost

Guaranteed pricing below that of an employer-sponsored health plan

You pay nothing

You pay premiums only, and insurance pays the rest

You pay premiums and deductible, and insurance pays the rest

You pay premiums, deductible, and partial costs for services, and insurance pays partial costs for services

The cost of treating the specific illness or injury

Any health bills that occur after you file a valid claim

Payments to your employer to compensate them while you cannot work

Income replacement for you because you are unable to work and earn income

Term is for younger individuals, while permanent is for older individuals

Term pays a benefit only if you die within the predetermined time frame, while permanent pays a benefit regardless of when you die

Term lasts as long as you are still working, while permanent lasts in retirement as well

Term is bought as a private policy, while permanent is provided through your employer

To earn a consistent rate of return with lower risk than typical savings accounts

To build wealth by reinvesting your returns and allowing them to compound

To earn higher average rates of return than you would in a typical savings account

Putting $100 per month into an FDIC-insured bank account for short-term goals

Buying and selling stocks within the same day to take advantage of short-term price variation

Reducing the purchasing power of your money over time

Buying assets, like stocks, with the intention to hold them and grow your wealth over the long term.

Making frequent trades

Starting to invest early

Reinvesting earnings

Minimizing risk

Businesses listing their entire company for sale

Businesses selling partial ownership of their companies to raise capital

Investors buying stock in hopes of being hired by companies

People making donations to companies that need funding

Investors are pessimistic about how the stock market will perform

The economy is not doing as well

More investors are buying stocks, which causes stock values to increase

The unemployment rate in the country increases

Experienced highs and lows but increased in overall value

Had slight ups and downs but stayed about the same in value

Rarely experienced changes and has maintained the exact same value

A measurement of a company’s profits

An investment option that allows you to own a small piece of a company

An annual report that includes details about a company’s leadership and earnings

A low-risk savings option that can help you build an emergency fund

The stock ticker symbol

The price change of the stock, quoted as a percentage

The market cap

The stock’s opening and closing price for that day