The answer to this question can be found on the Central BankFinancialEducationwebsite,in the"Basics"Playlistunder"Credit Cards".

True or False:If you charge something toa credit card and pay off the balance within the grace period, you will not be charged interest.

True

False

0.055 points

QUESTION 2

The answer to this question can be found on the Central BankFinancialEducationwebsite,in the "Financial Education in HigherEducation"playlistunder"Understanding yourStudent Loans".

Question:All of the following are reasonable options to help you minimize your student loan needs, except:

a.Getting a part-time job

b.Drop out of school

c.Annual FAFSA Application

d.Examine your budget and control your spending

0.045 points

QUESTION 3

The answer to this question can be found on teh Central Bank Financial Education website, in the "Basics" playlist under "Creating a Budget".

Question:Which of the following is not a key point in developing a budget?

a.Maximize Income

b.Track your expenses

c.Know your income and expenses

d.Eliminate budget busters

0.045 points

QUESTION 4

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe"Basics"playlistunder"Creating a Budget."

Question:All of the following transactions can cause an overdraft, except:

Select the answer that most accurately reflects the information provided by the source.

a.Check

b.Online Payment

c.Deposit

d.Debit Card Purchase

0.045 points

QUESTION 5

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe"Basics"playlistunder"Credit Cards."

True or False:Almost half of Americans with a credit card have had to deal with fraudulent charges.

True

False

0.045 points

QUESTION 6

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe "Financial Education in HigherEducation"playlistunder"Family Conversations About Money."

True or False:Almost half of Americans believe money is more difficult to talk about than death, politics, or religion.

Select the answer that most accurately reflects the information provided by the source.

True

False

0.045 points

QUESTION 7

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe"Financial Education in HigherEducation"playlistunder"Family Conversations About Money."

Question:Which of the following is not one of the four fundamental financial habits for families?

Select the answer that most accurately reflects the information provided by the source.

a.Financial Decision Making

b.Day Trading

c.Earning

d.Borrowing

0.045 points

QUESTION 8

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe"TheBasics"playlistunder"Mobile and OnlineBanking."

Check All That Apply:Which four items are listed among the "8 best practices for staying secure"?

Use a strong password - and keep it secret!

Download from a trusted source

Verify who you are communicating with

Don't forget to log out

Update your phone and computer software regularly

NEVER check your online bank account on a Wednesday

0.045 points

QUESTION 9

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe"Basics"playlistunder"Savings Accounts."

Question:Which of the following is not a reason to save money?

Select the answer that most accurately reflects the information provided by the source.

a.Savings accounts don't pay interest

b.It will help you avoid unnecessary debt for emergency expenses

c.It makes long-term goals achievable

d.It allows you to plan for your ideal retirement

0.045 points

QUESTION 10

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe "Financial Education in HigherEducation"playlistunder"Understanding Your Student Loans."

True or False:There are other options for repayment terms on your Federal Student Loans.However, if you are granted an extended repayment plan, you will have more time to repay your loan, but it will cost you significantly more money over time because more interest will be paid overall.

Select the answer that most accurately reflects the information provided by the source.

True

False

0.045 points

QUESTION 11

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe "The Basics"playlistunder"Building Emergency Savings."

True or False:You should have 1-2 months worth of living expenses in an emergency savings account at all times, and 10 months of living expenses if your income varies a lot.

Select the answer that most accurately reflects the information provided by the source.

True

False

0.045 points

QUESTION 12

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe "Financial Education in HigherEducation"playlistunder"Understanding Your Student Loans."

Since you do not need to repay student loans with interest, you should take out as much money as you want.

True

False

0.045 points

QUESTION 13

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe"Basics"playlistunder"Checking Accounts."

Question:All of the following are advantages of a debit card except:

Select the answer that most accurately reflects the information provided by the source.

a.Convenience

b.Purchase Protection

c.Security

d.Rewards

0.045 points

QUESTION 14

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe "The Basics"playlistunder"Family Conversations About Money".

True or False:Children as young as 3-5 should be taught about spending and saving by their parents.

Select the answer that most accurately reflects the information provided by the source.

True

False

0.045 points

QUESTION 15

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe "Financial Education in HigherEducation"playlistunder"Understanding Your Student Loans."

True or False:While only federal loans can be consolidated into a federal Direct Consolidation Loan, many lenders are able to consolidate all your student loans.

Select the answer that most accurately reflects the information provided by the source.

True

False

0.045 points

QUESTION 16

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe "Financial Education in HigherEducation"playlistunder"Paying for College."

Question:Besides tuition and housing, the average family spends an additional ______ per semester on other college costs

Select the answer that most accurately reflects the information provided by the source.

a.$3,000 - $5,000

b.$1,700 - $3,300

c.$1,000 - $1,500

d.$500 - $750

0.045 points

QUESTION 17

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe "Financial Education in HigherEducation"playlistunder"Paying Your Student Loans."

True False:If possible, you should always pay more than the minimum payment on student loans, which can shorten the length of time you are in debt and lower the amount of interest you pay.The two types of methods that can be applied to help you pay off early are the Snowball Method and the Avalanche Method.

Select the answer that most accurately reflects the information provided by the source.

True

False

0.045 points

QUESTION 18

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe"Basics"playlistunder"Creating a Budget".

True or False:The 50-30-20 Rule can help you determine what you can and cannot afford (watch video for answer).

Select the answer that most accurately reflects the information provided by the source.

True

False

0.045 points

QUESTION 19

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe "Financial Education in HigherEducation"playlistunder"Paying Your Student Loans."

Question:To calculate the amount of your monthly payment that you will have to pay on your student loan after your graduate, you will need to know the loan balance (principal), interest rate you will be charged, and ________.

Select the answer that most accurately reflects the information provided by the source.

a.Year you were born

b.Student ID Number

c.Term (length of time)you will have to repay the loan

d.All the lyrics to the Sponge Bob Square Pants theme song

0.045 points

QUESTION 20

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe"Basics"playlistunder"Checking Accounts."

True or False: If you leave a negative balance in your checking account for longer than the specified period of time, some banks charge an additional fee on top of the overdraft fee.

Select the answer that most accurately reflects the information provided by the source.

True

False

0.045 points

QUESTION 21

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe "Financial Education in HigherEducation"playlistunder"Paying for College."

Question:Use the College Savings Calculator to calculate the answer to this question: If you have a child that will go to college in 10 years and you have $5,000 already saved for college expenses, what should your annual savings goal be for a 4-year public university?

Select the answer that most accurately reflects the information provided by the source.

a.$8,280

b.$5,460

c.$9,150

d.Too much.That kid is going to boot camp.

0.045 points

QUESTION 22

The answer to this question can be found on the Central Bank FinancialEducationwebsite,inthe"Basics"playlistunder"Savings Accounts."

Question:If you save $100,000 in an account that earns 3% annual compound interest, what will the balance be after 10 years? (watch the video about interest to find the answer)

Select the answer that most accurately reflects the information provided by the source.

a.$113,000

b.$103,000

c.$135,000

d.$160,000