EverFi Questions and Answers Already
Passed
Decision making ✔✔Considering different information to make a choice
Privacy ✔✔Keeping important information to yourself or between yourself and close family
members
Financial literacy ✔✔The knowledge and skills to manage money
Financial institution ✔✔a place, like a bank, that helps its members manage their money
Financial advisor ✔✔a person who is a professional at handling money and can give you
information and advice about saving and investing
Short-term goal ✔✔a goal that can be achieved in a short amount of time. It can be a few days,
weeks, or months
, Long-term goal ✔✔a goal that can be achieved in a longer amount of time. It can be months,
years or even an entire lifetime
Want ✔✔something you'd like to have but will be okay without
Need ✔✔something you truly can't live without
Opportunity cost ✔✔the cost you pay when you give up something to get something else
Inflation ✔✔the price of goods and services rises over time
Income ✔✔money earned from working and other means
Salary ✔✔payment for work, expressed as a yearly sum and paid in portions every week, two
weeks or month including sick time and vacation time
Wage ✔✔payment for work, usually calculated on an hourly, daily, or piecework basis and paid
on schedule-usually every week, two weeks or month
Passed
Decision making ✔✔Considering different information to make a choice
Privacy ✔✔Keeping important information to yourself or between yourself and close family
members
Financial literacy ✔✔The knowledge and skills to manage money
Financial institution ✔✔a place, like a bank, that helps its members manage their money
Financial advisor ✔✔a person who is a professional at handling money and can give you
information and advice about saving and investing
Short-term goal ✔✔a goal that can be achieved in a short amount of time. It can be a few days,
weeks, or months
, Long-term goal ✔✔a goal that can be achieved in a longer amount of time. It can be months,
years or even an entire lifetime
Want ✔✔something you'd like to have but will be okay without
Need ✔✔something you truly can't live without
Opportunity cost ✔✔the cost you pay when you give up something to get something else
Inflation ✔✔the price of goods and services rises over time
Income ✔✔money earned from working and other means
Salary ✔✔payment for work, expressed as a yearly sum and paid in portions every week, two
weeks or month including sick time and vacation time
Wage ✔✔payment for work, usually calculated on an hourly, daily, or piecework basis and paid
on schedule-usually every week, two weeks or month
