EVERFI - Banking Basics Questions and
Answers 100% Pass
Investing is best for ________.
a. long-term financial goals, like paying for retirement.
b. earning a little interest while keeping your money safe
c. guaranteed fast growth on your money
d. short-term financial goals, like building an emergency fund. ✔✔a
How can you avoid spending more than what is in your bank account?
a. check your bank statement once a month
b. ask your financial institution to notify you when you are close to $0 in your account
c. keep your own record to compare with your financial institutions records
d. none of the above. ✔✔c
A savings account that compounds interest daily will earn a higher return than a savings account
that pays simple interest daily.
a. FALSE
b. TRUE ✔✔a
Answers 100% Pass
Investing is best for ________.
a. long-term financial goals, like paying for retirement.
b. earning a little interest while keeping your money safe
c. guaranteed fast growth on your money
d. short-term financial goals, like building an emergency fund. ✔✔a
How can you avoid spending more than what is in your bank account?
a. check your bank statement once a month
b. ask your financial institution to notify you when you are close to $0 in your account
c. keep your own record to compare with your financial institutions records
d. none of the above. ✔✔c
A savings account that compounds interest daily will earn a higher return than a savings account
that pays simple interest daily.
a. FALSE
b. TRUE ✔✔a
