Financial Literacy
2 years ago
jenschue
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20 QuestionsShow answers
  • Question 1
    30 seconds
    Q. Financial Literacy is having the knowledge, understanding, and skills necessary to become an effective consumer.
    answer choices
    True
    False
  • Question 2
    30 seconds
    Q. Using a credit card allows you to...
    answer choices
    put money into a savings account.
    purchase something now and pay for it later.
    take money directly from your checking account.
  • Question 3
    30 seconds
    Q. All of these are examples of types of credit except:
    answer choices
    savings account
    college loan
    credit cards
    car loan
  • Question 4
    30 seconds
    Q. These are also all types of credit except:
    answer choices
    car loan
    college loan
    checking account
    home mortgage loan
  • Question 5
    30 seconds
    Q. Before signing up for a credit card, you will want to find out...
    answer choices
    if there is an annual fee.
    what the interest rate is on purchases.
    what types of late fees could be charged.
    all of these are correct.
  • Question 6
    30 seconds
    Q. A credit card company usually has a grace period for purchases. A grace period is...
    answer choices
    the time period after you make a purchase until the time the interest starts to get charged.
    the time period where interest builds on the amount you purchased.
  • Question 7
    30 seconds
    Q. When you sign up for a credit card you will get a lengthy document explaining things, it is the
    answer choices
    lease
    title
    after math document
    terms of agreement
  • Question 8
    30 seconds
    Q. Overspending and accumulating too much debt can ruin your credit score
    answer choices
    True
    False
  • Question 9
    30 seconds
    Q. Annual fee definition
    answer choices
    When you withdraw money from the ATM and it charges you $1.50.
    When a credit card company charges you a fee each YEAR
  • Question 10
    30 seconds
    Q. Credit scores range from _____ to _____.
    answer choices
    350, 800
    300, 850
    400, 650
    400,800
  • Question 11
    30 seconds
    Q. Ms. S's credit score is 720, according to this graph, it is considered... (hint -don't let the little man fool you)
    answer choices
    fair
    poor
    good
    great
  • Question 12
    30 seconds
    Q. Credit scores are based on certain criteria such as
    answer choices
    religion
    payment history
    gender
    all of these things
  • Question 13
    30 seconds
    Q. Credit scores are based on certain criteria such as
    answer choices
    age
    gender
    how much credit card debt you have
    national origin
  • Question 14
    30 seconds
    Q. An example of a secured card is a
    answer choices
    Debit card
    Pre-paid Visa card
  • Question 15
    30 seconds
    Q. The percentage rate (APR) charged on purchases is called:
    answer choices
    annual fee
    interest
    balance
  • Question 16
    30 seconds
    Q. A secured card is connected to your bank account, it will
    answer choices
    not help you build credit.
    will help you build credit.
  • Question 17
    30 seconds
    Q. If you withdraw cash from an ATM with your Credit Card, what happens?
    answer choices
    The grace period will begin.
    Interest will start to be charged right away.
  • Question 18
    30 seconds
    Q. A Pre-paid credit card
    answer choices
    is not connected to your bank account.
    is connected to your bank account.
  • Question 19
    30 seconds
    Q. If you file bankruptcy, it stays on your credit report for how many years?
    answer choices
    2
    3
    5
    7
  • Question 20
    30 seconds
    Q. The higher your credit score, the more likely you are to...
    answer choices
    get your dream job
    get a good interest rate on a car loan.
    get the apartment of your dreams. 
    all of these things.
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