EVERFI ACTUAL TEST QUESTIONS AND ANSWERS WITH DETAILED SOLUTION GUIDE

EVERFI ACTUAL TEST QUESTIONS AND
ANSWERS WITH DETAILED SOLUTION
GUIDE

●● Income
Answer: money received, especially on a regular basis, for work or
through investments.


●● Expense
Answer: Money spent


●● Opportunity Cost
Answer: Cost of the next best alternative use of money, time, or
resources when one choice is made rather than another


●● Unit Price
Answer: a price per and individual part of a whole


●● Reason to build extra cash in your budget
Answer: To have money for unexpected expenses

, ●● How can paying attention to unit price help make decisions to buy a
product?
Answer: Consuming a higher quantity of the product allows a cheaper
price.


●● How can paying with cash help with budgeting?
Answer: You are limited to the amount you spend with in a specific
amount of time so that you don't overspend.


●● Wage
Answer: A payment for the amount of time you work


●● Salary
Answer: A set amount paid bi-weekly or monthly


●● Stipend
Answer: a fixed amount paid for work, usually on a scheduled basis or
after a set amount of time


●● When you use a debit card, where does the money come from?
Answer: A checking account


●● What is one requirement to open a credit card?