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FREE AND STUDY GAMES ABOUT EVERFI/VAULT EXAM
QUESTIONS
Actual Qs and Ans Expert-Verified Explanation
This Exam contains:
-Guarantee passing score -43 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation
Question 1: Oppertunity Cost
Answer:
the cost we pay when we give up something to get something else
Question 2: Reliability
Answer:
being trustworthy; being responsible
Question 3: Wage
Answer:
payment for work, usually calculated on a hourly, daily, or piecework basis and paid on schedule- usually week, two weeks, or month
Question 4: Certificate of deposit
Answer:
a savings certificate that gains interest and has a set time before you can withdraw money from it
Question 5: Interest
Answer:
the extra gee charged for borrowing money, or the cost of borrowing money
Question 6: Credit
Answer:
a loan someone uses to pay for things, but is expected to pay back
Question 7: Entrepeneur
Answer:
a person who starts his or her own business
Question 8: Brokerage firm
Answer:
helps people invest their money
Question 9: Financial literacy
Answer:
the knowledge and skills to manage money
Question 10: Assets
Answer:
what a person owns of value, such as jewelry, savings, art, a home, and a car
Question 11: Salary
Answer:
payment for work, represented as a yearly sum and paid in portions every week, two weeks, or month including sick time and vacation time
Question 12: Budget
Answer:
a spending plan people make in order to make sure there is enough income to cover all expenses
Question 13: Spend
Answer:
to use money to buy stuff
Question 14: Job
Answer:
work you do for money
Question 15: Comparison Shopping
Answer:
finding out whether or not what you are about to buy can be found for a better price or in better shape at a different store
Question 16: Expense
Answer:
the cost of the things that people spenf money on
Question 17: Risk prevention
Answer:
stuff you do to stop consequences of risks form happening
Question 18: Short-term goal
Answer:
a goal that can be achieved in a chor amount of time. it can be a few days, weeks, or months
Question 19: Charity
Answer:
giving resources or volunteering to help those in need
Question 20: Savings
Answer:
money set aside for a short- or long-term goal
Question 21: Health insurance
Answer:
helps people pay for medicine and doctors when they are sick or hurt
Question 22: taxes
Answer:
fees placed on income, purchases, or property to support government programs
Question 23: bank
Answer:
A place where people put their money for safekeeping, and for ease of use
Question 24: Credit union
Answer:
just like a bank, only its members own it
Question 25: Impulse buying
Answer:
buying stuff without thinking about whether or not you need it
Question 26: Want
Answer:
something you would like to have but will be okay without
Question 27: Controlling risks
Answer:
things you do to make risks less dangerous or not dangerous at all
Question 28: Desicion making
Answer:
considering different information to make a desicion
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