Credit Reports and Scores
When may a person view his/her credit report for free?
once a year
If you move into an apartment with a roommate, who is responsible for purchasing renter's insurance?
both of you
Wrongfully acquiring and using someone's personal information is called what?
Identity Theft
Marcus wants to guard his personal information. Which personal information is least likely to be used by a scammer?
phone number, credit card number, bank account number, driver's license number
phone number
a lease
AHS Graduation 2023 is on what day?
May 26, 2023
Ethan is writing a scholarship essay about the importance of responsible money management. He needs to explain the meaning of borrowing. What does it mean to borrow money?
You are spending your future money.
Carter's wallet with his driver's license, debit and credit cards has been stolen. Could someone take a college admissions test with his name?
NO
Are you at risk of identity theft if you pay with cash?
NO
What are the Adrian Dragon's team colors?
Blue and Gold
Brooklyn no longer wants to use her Maurices credit card. What is the best thing she could do to the credit card?
Close the account by phone and in writing, then destroy the card.
Daniel earns $5,000 a month at his accounting job. He has a student loan payment of $120, a car loan of $300. Are these within the safe range for someone his age?
Yes
When should someone get life insurance?
When they have dependents (children or spouse)
To minimize identity theft, people should check their credit reports at least once a year.
True or False
True
What is rent?
the cost of using someone else's property
Which of the following is not a data furnisher?
Landlord, Credit Card Company, Utility Company, Medical Provider
Medical Provider
What is closed-end credit?
Ashley plans on doing some Christmas shopping online. What should she use to purchase items online?
Credit Card
What is the difference between property and liability insurance.
Property - pays for loss to the insured person
liability - pays for loss to others
What is Mrs. Klosterman's maiden name?
Kooiman
When Jordan attempted to borrow money at the bank, he learned that his credit score is low. What do you think will happen to his loan?
He will have high interest rates, since his credit score is low
What is open-end credit?
Credit that is extended in advance so that the borrower does not need to apply each time they want more money
Chris wants to decrease his risk of fraudulent use of his credit cards. What should he do to avoid this?
Sign the back of the card and write "please see picture ID"
What does it mean to be a beneficiary on someone's life insurance?
You get their money when they die
What is depreciation? Is it part of your transportation expenses?
The value of something goes down.
NO