EVERFI EXAMS SET BUNDLED QUESTIONS
AND CORRECT ANSWERS SUCCESS
PACKAGE
●● Which is a good way to make an informed decision about a
purchase?
Answer: Read reviews from other consumers
●● Are sponsored reviews or verified purchaser reviews more reliable?
Why?
Answer: Verified purchaser reviews are more reliable because the
reviewer isn't being paid for a positive review
●● What is a risk of using cash?
Answer: Not having fraud protection
●● Why should you work to be an informed consumer?
Answer: To get the most value for your money
●● A 10-ounce bottle of your favorite lotion that you use each day costs
$9.50. The 5-ounce bottle only costs $5. Which is the better deal and
why?
,Answer: The 10-ounce bottle is a better deal because the price per unit is
lower
●● Which review of an online clothing store is more trustworthy and
why? Review A states: "All 5 of the shirts were high quality but small.
Order a size up" (verified purchase). Review B states: "I love everything
from this site. Don't miss out on their great sales" (sponsored review).
Answer: Review A is more trustworthy because it was a verified
purchase
●● Which of the following is accurate about the benefits and risks of
using credit cards to make purchases?
Answer: Credit cards come with fraud protection, but credit card
numbers can be copied by identity thieves
●● Jasmine just received her paycheck. To manage her money, she
categorizes spending by needs, wants, and savings and debt. What
money management strategy is Jasmine following?
Answer: 50-30-20 rule
●● How is money divided using the 50-30-20 Method?
Answer: Needs, wants, savings
, ●● If Alexei makes $100 per week working as a tutor, how long will it
take Alexei to save up for the $400 Gravity Roller tickets if he saves $50
each week for the tickets using the envelope method?
Answer: 8 weeks
●● What can a budget help you do?
Answer: Prioritize expenses and track spending
●● How can a budget help you reach your financial goals?
Answer: Budgeting helps track spending and increases savings
●● What should be prioritized when creating a budget?
Answer: Needs and wants
●● What does "pay yourself first" mean?
Answer: Put money in your savings account before you pay your other
expenses
●● In the 50-30-20 Rule, 50% of your income should be spent on
________________.
Answer: Needs
AND CORRECT ANSWERS SUCCESS
PACKAGE
●● Which is a good way to make an informed decision about a
purchase?
Answer: Read reviews from other consumers
●● Are sponsored reviews or verified purchaser reviews more reliable?
Why?
Answer: Verified purchaser reviews are more reliable because the
reviewer isn't being paid for a positive review
●● What is a risk of using cash?
Answer: Not having fraud protection
●● Why should you work to be an informed consumer?
Answer: To get the most value for your money
●● A 10-ounce bottle of your favorite lotion that you use each day costs
$9.50. The 5-ounce bottle only costs $5. Which is the better deal and
why?
,Answer: The 10-ounce bottle is a better deal because the price per unit is
lower
●● Which review of an online clothing store is more trustworthy and
why? Review A states: "All 5 of the shirts were high quality but small.
Order a size up" (verified purchase). Review B states: "I love everything
from this site. Don't miss out on their great sales" (sponsored review).
Answer: Review A is more trustworthy because it was a verified
purchase
●● Which of the following is accurate about the benefits and risks of
using credit cards to make purchases?
Answer: Credit cards come with fraud protection, but credit card
numbers can be copied by identity thieves
●● Jasmine just received her paycheck. To manage her money, she
categorizes spending by needs, wants, and savings and debt. What
money management strategy is Jasmine following?
Answer: 50-30-20 rule
●● How is money divided using the 50-30-20 Method?
Answer: Needs, wants, savings
, ●● If Alexei makes $100 per week working as a tutor, how long will it
take Alexei to save up for the $400 Gravity Roller tickets if he saves $50
each week for the tickets using the envelope method?
Answer: 8 weeks
●● What can a budget help you do?
Answer: Prioritize expenses and track spending
●● How can a budget help you reach your financial goals?
Answer: Budgeting helps track spending and increases savings
●● What should be prioritized when creating a budget?
Answer: Needs and wants
●● What does "pay yourself first" mean?
Answer: Put money in your savings account before you pay your other
expenses
●● In the 50-30-20 Rule, 50% of your income should be spent on
________________.
Answer: Needs
