Everfi Module 9 Investing

Paying more than the minimum payment can help you get out of debt faster If you're already in debt, try to avoid missing a credit card payment, as it can lead to additional late fees and even raise your APR The average minimum payment only equals 2 to 3% of your total debt, so making only the minimum payments on your credit card bill may keep you in debt for a long time pay more than the minimum When choosing a credit card, look for annual fees, changes to your APR, and other finance cha...

What is a Money Order? A way to pay up front so the check can't bounce What is a debit card? A card linked directly to your bank account What is a cashier's check? a check that comes directly out of your bank account, usually for a fee What is a credit card? A card that let's you borrow money to make a purchase What is a pre-paid card? Type of credit card preloaded with money so you don't overspend What is a Pay-Day Loan? small amount of money lent at a high rate of interest on the ag...

What education level has the highest return on investment (ROI)? Bachelor's Degree (4 years of college) When referring to student loans, what is a grace period? The period after graduating or leaving school before you must begin paying back student loans. Using the FAFSA form, you can apply for: Federal student loans and the federal work-study program Your sister is starting 9th grade and is thinking about going to college. What step would you recommend she first take? Look for school cl...

Consumer protection laws are meant to: Prevent unfair or deceptive business practices. What is the FIRST action you should take if you suspect there has been a fraudulent charge on your credit card? Contact the credit card company to report the fraudulent charge. It is generally safe to provide your Social Security Number to: Verified trusted sources that need it The primary goal of the Consumer Financial Protection Bureau is: To protect consumers by regulating financial products and servi...

If an employer does not offer a retirement plan, what might be another way to save for retirement? D Both A and B What is the primary reason to issue stock? B to raise money for the company Which of the following would be considered the highest risk portfolio? C A portfolio made up of 60% stocks, 30% mutual funds, and 10% Treasury bonds. Why is a high-quality bond typically considered a lower-risk investment than a stock? C A bond typically pays a fixed, predictable amount of interest each...

Risk and Return The higher the risk, the higher the potential return of any money you invest. The lower the risk, the lower the potential return. Rate of Return The ration of the money you gain on an investment in relation to the amount of money that was invested. Bonds Basically a loan, except you're the lender. Security A term referring to a category of investments. Stocks A share of ownership in a company Appreciation in Value An investment that appreciates and gets more valuable over...

What is the typical relationship between time and interest rate? a) Longer time period usually equal higher interest rates b) Shorter time period usually equal higher interest rates c) Longer time periods usually have no affect on interest rates d) Shorter time periods usually have no affect on interest rates a) Longer time period usually equal higher interest rates Interest is: a) a charge for lending money to a bank b) the amount owed for borrowing money c) the amount added into your ...

Which of the following actions will help someone with alcohol poisioning? all of the above Which of the following statements about hazing is FALSE? hazing only occurs in greek orgs Why is drinking from a communal drink source, like a punch bowl, dangerous? all of the above The best way to get consent in a sexual situation is: clear verbal communication about what each partner wants How can you avoid stalking someone? both a and c How many men experience sexual assault while in college? 1 ...

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 sh...

QUESTION 1 Which of the following conditions will maximize the amount of interest you earn? A high interest rate and long time period A high interest rate and short time period A low interest rate and long time period A low interest rate and short time period Answer: A QUESTION 2 "Compounding frequency" refers to: How often your interest rate is calculated and added back into your account How easily you can add money into your account What type of interest your account earns What i...