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EVERFI EXAM PREP QUESTIONS AND ANSWERS GRADED A PLUS STUDY RESOURCE

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EVERFI EXAM PREP QUESTIONS AND ANSWERS GRADED A PLUS STUDY RESOURCE

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EVERFI EXAM PREP QUESTIONS AND
ANSWERS GRADED A PLUS STUDY
RESOURCE

●● what is compounding frequency
Answer: how often your money is compounded


●● what is the rule of 72
Answer: tells you how long it will take for your money to double


●● 3 types of savings vehicles
Answer: savings account, money market account, certificate of deposit


●● what is a budget
Answer: plan for your money


●● job of the federal reserve system
Answer: oversees the nation's system of money and credit


●● parts of the federal reserve system
Answer: 12 regional reserve banks, federal open market committee

, ●● retail bank
Answer: individuals and businesses


●● credit union
Answer: owned and controlled by its members


●● online bank
Answer: no physical location


●● checks routing number
Answer: which bank the money is coming from


●● checks account number
Answer: which account the money is coming from


●● check number
Answer: keeps track of how many checks you have written


●● liquidity
Answer: how easy it is to access your money

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