EVERFI Module 1 Banking Basics Answers_Summer 2025
Which of the following is NOT a common feature of a financial institution?
a. Direct deposit
b. Paper Checks
c. Access to investment advice
d. Checking and savings accounts - (answers)C
吗？还是指某个特定的词或概念
Which of the following statements
？ about check cashing companies is FALSE?
a. They make it easy to fall into a loan cycle that is hard to get out of
b. They offer bad deals where you'll owe a lot more than you borrowed
c. They can take a percentage of your check on top of fees
d. They charge low fees - (answers)b. They offer bad deals where you'll owe a lot more than you
borrowed
Your financial institution can't help you if there is a mistake on your bank account statement. -
(answers)false
Which of the following statements about investing is true
, a. On average, putting money in a savings account earns a higher return than investing money in
the stock market
b. investing is best for short-term financial goals
c. Investing is riskier than putting money in a savings accounts
d. Investing is a guaranteed way to make money - (answers)C
Which of the following statements about savings accounts is False
吗？还是指某个特定的词或概念
a. Savings accounts are best used to store money for long-term goals
？
b. Savings accounts may require you to maintain a minimum balance to avoid paying a fee
c. savings accounts pay interest on the money you deposit
d. savings accounts allow an unlimited amount of withdrawals each month - (answers)D
How would you reconcile your bank account to avoid spending more than you have?
a. Contact your financial institution to read your transactions for the past month
b. compare your own records of your spending with your financial institution's records
c. review your bank statement once at the end of the month
d. none of the above - (answers)B
Which savings account will earn you the least money?
Which of the following is NOT a common feature of a financial institution?
a. Direct deposit
b. Paper Checks
c. Access to investment advice
d. Checking and savings accounts - (answers)C
吗？还是指某个特定的词或概念
Which of the following statements
？ about check cashing companies is FALSE?
a. They make it easy to fall into a loan cycle that is hard to get out of
b. They offer bad deals where you'll owe a lot more than you borrowed
c. They can take a percentage of your check on top of fees
d. They charge low fees - (answers)b. They offer bad deals where you'll owe a lot more than you
borrowed
Your financial institution can't help you if there is a mistake on your bank account statement. -
(answers)false
Which of the following statements about investing is true
, a. On average, putting money in a savings account earns a higher return than investing money in
the stock market
b. investing is best for short-term financial goals
c. Investing is riskier than putting money in a savings accounts
d. Investing is a guaranteed way to make money - (answers)C
Which of the following statements about savings accounts is False
吗？还是指某个特定的词或概念
a. Savings accounts are best used to store money for long-term goals
？
b. Savings accounts may require you to maintain a minimum balance to avoid paying a fee
c. savings accounts pay interest on the money you deposit
d. savings accounts allow an unlimited amount of withdrawals each month - (answers)D
How would you reconcile your bank account to avoid spending more than you have?
a. Contact your financial institution to read your transactions for the past month
b. compare your own records of your spending with your financial institution's records
c. review your bank statement once at the end of the month
d. none of the above - (answers)B
Which savings account will earn you the least money?
