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Everfi module 1-9 | 100% Correct Answers | Verified | Latest 2024 Version, Exams of Financial Management

Augusta UniversityFinancial Management

Everfi module 1-9 | 100% Correct Answers | Verified | Latest 2024 Version

Typology: Exams

2024/2025

Available from 05/13/2025

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Everfi module 1-9 | 100% Correct Answers |
Verified | Latest 2024 Version
what is interest - ✔✔pay extra for the convenience of borrowing money
what is compounding frequency - ✔✔how often your money is compounded
what is the rule of 72 - ✔✔tells you how long it will take for your money to double
3 types of savings vehicles - ✔✔savings account, money market account, certificate of deposit
what is a budget - ✔✔plan for your money
job of the federal reserve system - ✔✔oversees the nation's system of money and credit
parts of the federal reserve system - ✔✔12 regional reserve banks, federal open market committee
retail bank - ✔✔individuals and businesses
credit union - ✔✔owned and controlled by its members
online bank - ✔✔no physical location
checks routing number - ✔✔which bank the money is coming from
checks account number - ✔✔which account the money is coming from
check number - ✔✔keeps track of how many checks you have written
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Download Everfi module 1-9 | 100% Correct Answers | Verified | Latest 2024 Version and more Exams Financial Management in PDF only on Docsity!

Everfi module 1- 9 | 100% Correct Answers |

Verified | Latest 2024 Version

what is interest - ✔✔pay extra for the convenience of borrowing money what is compounding frequency - ✔✔how often your money is compounded what is the rule of 72 - ✔✔tells you how long it will take for your money to double 3 types of savings vehicles - ✔✔savings account, money market account, certificate of deposit what is a budget - ✔✔plan for your money job of the federal reserve system - ✔✔oversees the nation's system of money and credit parts of the federal reserve system - ✔✔12 regional reserve banks, federal open market committee retail bank - ✔✔individuals and businesses credit union - ✔✔owned and controlled by its members online bank - ✔✔no physical location checks routing number - ✔✔which bank the money is coming from checks account number - ✔✔which account the money is coming from check number - ✔✔keeps track of how many checks you have written

liquidity - ✔✔how easy it is to access your money direct deposit - ✔✔money goes directly into your account from your paycheck required balance - ✔✔minimum balance that must be in an account at all times credit limit - ✔✔how much you are allowed to put on your credit card APR - ✔✔annual percentage rate credit card disclosure - ✔✔ensures that credit card companies treat customers fairly fees and interest - ✔✔you have to pay fees if your credit card bill isn't paid on time and you have to pay the money loaned back plus interest three major credit bureaus in the United States - ✔✔Experian, Transunion, Equifax what is a credit score - ✔✔represents how likely you are to pay back your debts 5 components of credit score - ✔✔payment history, amounts owed, length of credit history, new credit, types of credit used hard inquiry - ✔✔occurs when someone checks your credit history to make a lending decision, it affects your credit score soft inquiry - ✔✔occurs when someone runs a background check on your credit, does not affect your credit score

sales tax - ✔✔charged on items you purchase property tax - ✔✔based on value of owned property capital gain tax - ✔✔charged on any profit you make from selling something at a higher price than you bought it social security tax - ✔✔tax that pays for the retirement benefits for people who are retired or will be in the future progressive tax - ✔✔ate increases as taxable amount increases regressive tax - ✔✔takes a larger percentage from lower income people What information would most benefit an identity thief - ✔✔social security number job of the federal trade commission - ✔✔protects consumers against false advertising and other unfair business practices stock - ✔✔shares of ownership in a company municipal bond - ✔✔loans where you are lending your money to a company or a government diversification - ✔✔creating a mix of investments that have differing levels of risk 401K - ✔✔pay less in taxes when saving for retirement, offered by employer 403B - ✔✔pay less in taxes when saving for retirement, offered by employer

IRA - ✔✔won't need to pay taxes on that money until you retire, not offered by employer roth IRA - ✔✔pay taxes so when you retire the money you pull out will be tax free. not offered by employer the advantage of mutual funds - ✔✔reduces volatility what is NASDAQ - ✔✔National Association of Securities Dealers Automated Questions