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- 1. Multiple Choice
What percentage of Americans are living paycheck to paycheck?
25%
50%
70%
10%
- 2. Multiple Choice
Debt is acceptable because you have to build credit.
True
False
- 3. Multiple Choice
Which of the following was the first credit card?
Diners club
Visa
Mastercard
American Express
- 4. Multiple Choice
The percentage of families that have a negative net worth is 25%.
True
False
- 5. Multiple Choice
What was the gross revenue for the credit card industry last year?
100 million
150 billion
5 billion
80 billion
- 6. Multiple Choice
Which of the following is NOT a myth?
You have to build credit
The key to wealth building is staying out of debt
You can buy whatever you want in college and pay for it later
You need a new car
- 7. Multiple Choice
When does the bank require a co-signer on a loan?
When you are under 21 years old
When your name is Larry
When you're wealthy
When the bank has determined that you are unlikely to pay back the loan
- 8. Multiple Choice
Cash advances are helpful to those in lower income areas.
True
False
- 9. Multiple Choice
Who should you never loan money to?
Friends
Relatives
Strangers
All of the above
- 10. Multiple Choice
How much is the average car payment in America?
$250/month
$387/month
$464/month
$513/month
- 11. Multiple Choice
How much in value does a new vehicle decrease in 4 years?
70%
50%
30%
None of the Above
- 12. Multiple Choice
Which of the following is recommended when purchasing a vehicle?
Choose a leasing option
Finance the vehicle with a loan
Pay with cash
Buy something brand new
- 13. Multiple Choice
It's better to get a 30 yr. mortgage instead of a 15 yr. mortgage.
True
False
- 14. Multiple Choice
People spend 12-18% more when using a credit card instead of ____________.
checks
cash
debit cards
bitcoin
- 15. Multiple Choice
Who is the #1 target for credit card companies?
teens
senior citizens
women
wealthy individuals
- 16. Multiple Choice
FICO stands for:
Federal Insurance Corporation
Fair Isaac Corporation
Financial Investment Company
Funds Incorporated
- 17. Multiple Choice
What does FICO measure?
How you handle money
Your intelligence
How you've interacted with debt
All of the above
- 18. Multiple Choice
You need to build your credit score in order to buy a home.
True
False
- 19. Multiple Choice
A debit card offers the same _____________ as a credit card.
protection
rewards
terms
incentives
- 20. Multiple Choice
Which of the following is the key to building wealth?
Don't get married
Play the lottery
Use credit cards
Stay debt free
- 21. Multiple Choice
Which of the following is not one of the three main credit bureaus?
Experian
Triderian
TransUnion
Equifax
- 22. Multiple Choice
An agency that researches and collects individual credit information and sells it for a fee to creditors so they can make a decision on granting loans.
FBI
Federal Reserve
Credit Bureaus
ATF
- 23. Multiple Choice
Which of the following should you do to protect yourself from identity theft.
print S.S. number on checks
check your credit report every 5 years
create strong passwords
willing give out personal information
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