Everfi Financial Literacy Lesson 1 Quiz
A stock is ________.
A share of ownership in a company.
Which of the following is NOT a common feature of a financial institution?
Access to investment advice
which of the following is not a common feature of a financial institution
Access to investment advice
which of the following finances institutions typically have the highest fees
Check Cashing and payday loan companies
Which type of bank account is best for everyday transactions?
Checking Account
Your financial institution can't help you if there is a mistake on your bank account statement.
False
Which of the following statements is TRUE?
If there is a mistake on your bank account, you should contact your financial institution immediately.
Which of the following statements about investing is FALSE?
Investing is a guaranteed way to grow your money.
Which of the following statements about investing is TRUE?
Investing is riskier than putting money in a savings accounts.
Which of the following statements about savings accounts is FALSE?
Savings accounts allow an unlimited amount of withdrawals each month.
If there is a mistake with one of your bank accounts, who should you contact to resolve the issue?
Your bank
If there is a mistake with one of your bank accounts, who should you contact to resolve the issue?
Your financial institution
which of the following statements about stocks is true
a stock is a share of ownership in a company
a mutual fund is
a type of investment that invests in a mix of different types of investments
which of the following is not a common feature of a financial institution
access to investment products
what do you do before you approach an ATM
check for any suspicious people lurking nearby
savings accounts typically offer more interest than what type of account
checking account
which type of bank account typically offers the least ( if any) interest
checking account
how would you reconcile your bank account to avoid spending more than you have
compare your own records of your spending with your financial institutions records
what should you do before you withdraw money from the ATM
inspect the ATM to make sure it wasn't tampered with
which of the following statements about investing is false
investing is a guaranteed way to grow your money
Which of the following is NOT a common feature of a financial institution?
investment trading
how can you avoid spending more than what is in your bank account
keep your own records to compare with your financial institution's records
Investing is best for ________.
long-term financial goals, like paying for retirement.
which savings account will earn you the most money
one that compounds interest daily
which savings account will earn you the least money
one that earns simple interest monthly
A _______ is a share of ownership in a company.
stock
a __ is a share of ownership in the company
stock
which of the following statements about check cashing companies is true
they charge high fees
which of the following statements about check cashing companies is false
they charge low fees
why is it important to reconcile your bank statements
to avoid spending more than what is in your account, to detect any errors in your account, and to determine if you were charged any fees
a savings account that compounds interest daily will earn a higher return than a savings account that pays simple interest daily
true