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Everfi Final Exam Study Guide
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Everfi Final Exam Study Guide
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23 Questions

1. Which savings vehicles usually require a high minimum balance?

2. Which is NOT one of the responsibilities of the Federal Reserve?

3. Which is a type of savings vehicle?

4. The 3 parts of the Federal Reserve System are the Reserve Banks, the Federal Open Market Committee (FOMC), and the:

5. What's the purpose of balancing or monitoring your checking account?

6. Interest

7. What part of a check is the LEAST important?

8. Which is generally true about savings vehicles?

9. Which payment method typically charges the highest interest rates?

10. What payment type can help you stick to a budget?

11. Which statement comparing debit cards to credit cards is true?

12. Which is a unique feature of credit unions?

13. What's the best strategy for avoiding ATM fees?

14. You are opening a savings account that earns compound interest. Which compounding frequency will earn you the MOST money?

15. When it comes to saving money, what is a good rule of thumb?

16. Which account will give you the LEAST access to your money ?

17. Which payment types require you to pay upfront?

18. To earn as much interest as possible, you should open a savings account that earns _____ interest and has the ____ interest rate

19. Savings accounts usually offer ____ interest rates than checking accounts. It is ____ to access your money in a savings account than in a checking account.

20. Which represent typical account fees?

21. The purpose of a budget is to:

22. The best way to ensure the accuracy and safety of your accounts is to:

23. Which type of account is typically the MOST liquid?

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