EVERFI UPDATED ACTUAL QUESTIONS
AND CORRECT ANSWERS COMPLETE
STUDY GUIDE RESOURCE
●● Associate degree
Answer: An academic program taken at the undergraduate level,
typically after 2 years of study.
●● Auto insurance
Answer: A type of insurance purchased by vehicle owners to protect
them against financial loss in the event of an accident or theft.
●● Bachelor degree
Answer: A degree given to a study by a college or university, typically
after 4 years of study.
●● Bank
Answer: A for-profit financial institution that is federally licensed to
receive deposits and issue loans.
●● Benefits
,Answer: Any perk offered to an employee in addition to a salary. The
most common benefits are health insurance, disability, and life
insurance; retirement benefits; and paid time off (PTO).
●● Bodily injury liability
Answer: A type of insurance that helps pay for someone else's
emergency services and medical care if the person causes a car accident.
●● Budget
Answer: A plan for income and expenses during a set period.
●● Career
Answer: A profession, occupation, trade, or vocation.
●● Cash
Answer: Money in coins or notes.
●● Certificate Of Deposit (CD)
Answer: An account into which a sum of money is deposited for a
specified length of time; it typically pays higher interest rates than
standard savings and checking accounts.
●● Certificate program
, Answer: A specialized continuing educational course of study, often
used as additional training for students who already have a degree or
diploma.
●● Check
Answer: A written, dated, and signed draft that directs a bank to pay a
specific sum of money to a person or company.
●● Checking Account
Answer: An account at a financial institution into which money is
deposited and from which checks can be written for purchases or
services; may be used to receive wages and pay bills.
●● Collateral
Answer: Something you pledge to a lender if you fail to make payments.
●● Collision insurance
Answer: An auto insurance coverage that helps repair or replace the
insured person's car if it's damaged in a collision with another vehicle or
object.
●● Community college
Answer: A type of undergraduate higher education institution, generally
leading to an associate degree, certificate, or diploma.
AND CORRECT ANSWERS COMPLETE
STUDY GUIDE RESOURCE
●● Associate degree
Answer: An academic program taken at the undergraduate level,
typically after 2 years of study.
●● Auto insurance
Answer: A type of insurance purchased by vehicle owners to protect
them against financial loss in the event of an accident or theft.
●● Bachelor degree
Answer: A degree given to a study by a college or university, typically
after 4 years of study.
●● Bank
Answer: A for-profit financial institution that is federally licensed to
receive deposits and issue loans.
●● Benefits
,Answer: Any perk offered to an employee in addition to a salary. The
most common benefits are health insurance, disability, and life
insurance; retirement benefits; and paid time off (PTO).
●● Bodily injury liability
Answer: A type of insurance that helps pay for someone else's
emergency services and medical care if the person causes a car accident.
●● Budget
Answer: A plan for income and expenses during a set period.
●● Career
Answer: A profession, occupation, trade, or vocation.
●● Cash
Answer: Money in coins or notes.
●● Certificate Of Deposit (CD)
Answer: An account into which a sum of money is deposited for a
specified length of time; it typically pays higher interest rates than
standard savings and checking accounts.
●● Certificate program
, Answer: A specialized continuing educational course of study, often
used as additional training for students who already have a degree or
diploma.
●● Check
Answer: A written, dated, and signed draft that directs a bank to pay a
specific sum of money to a person or company.
●● Checking Account
Answer: An account at a financial institution into which money is
deposited and from which checks can be written for purchases or
services; may be used to receive wages and pay bills.
●● Collateral
Answer: Something you pledge to a lender if you fail to make payments.
●● Collision insurance
Answer: An auto insurance coverage that helps repair or replace the
insured person's car if it's damaged in a collision with another vehicle or
object.
●● Community college
Answer: A type of undergraduate higher education institution, generally
leading to an associate degree, certificate, or diploma.
