Presidents
Who was the first president of the United States?
George Washington
What two states have Disney parks?
California and Florida
What famous American said "I have a dream"?
Martin Luther King Jr.
What is the most watched sport in America?
American Football
Who is the most streamed artist of all time?
Taylor Swift
The difference between a variable-rate and fixed-rate mortgage is that the interest rate of the variable-rate mortgage changes depending on market conditions, whereas a fixed-rate mortgage remains the same?
A: False
B: True
B: True
Instead of going to predatory lenders, known for charging high interest rates and keeping borrowers stuck in a debt cycle, you should...
A: Borrow money from a friend
B: Create an emergency fund to rely on in times of financial distress
C: Ask Mr. Rothenberg for money
D: Use a cash advance app
B: Create an emergency fund to rely on in times of financial distress
How does the Debt Snowball strategy work to repay your debt?
A: You create a snowball and throw it at headquarters of the company who you owe money to
B: After you make your minimum payments, you pay extra money on the account with the lowest balance
C: After you make your minimum payments, you pay for a nice meal with your friends to celebrate the deed
D: After you make your minimum payments, you pay extra money on the account with the highest interest rate
B: After you make your minimum payments, you pay extra money on the account with the lowest balance
How does the Debt Avalanche strategy work to repay your debt?
A: After you make your minimum payments, you pay extra money on the account with the lowest balance
B: You trigger an avalanche that will destroy the headquarters of the company you owe money to
C: After you make your minimum payments, you cancel your credit cards to not incur further charges
D: After you make your minimum payments, you pay extra money on the account with the highest interest rate
D: After you make your minimum payments, you pay extra money on the account with the highest interest rate
Which choice best describes a checking account?
A: An account for checking the scores of various sports teams
B: A bank account used for quick access to funds for day-to-day transactions
C: An account used for storing money, with more limited access, that usually earns interest
D: An account with a credit card and a website that lets you check the balance daily
B: A bank account used for quick access to funds for day-to-day transactions
What are the effects of having a larger down-payment and higher credit score when you purchase a house?
A: More interest paid and overall worse terms
B: There is no effect
C: You can choose a better realtor
D: Less interest paid and overall better terms
D: Less interest paid and overall better terms
When should you consider declaring bankruptcy?
A: As a last resort, if you have so much debt that you are stuck making payments without progress
B: Never, because the government will take your assets and sell them
C: When you take out your first loan
D: After you miss your first credit card payment
A: As a last resort, if you have so much debt that you are stuck making payments without progress
What is the difference between Chapter 7 and Chapter 13 Bankruptcy?
A: The number 6
B: Chapter 7 places you on a 3-5 year repayment plan before your debts are discharged, whereas Chapter 13 involves the government selling your assets to pay your debt before discharging it
C: Chapter 7 involves the government selling your assets to repay your debt before discharging it, whereas Chapter 13 places you on a 3-5 year repayment plan before your debts are discharged
D: Chapter 7 involves making apologies to the companies you borrowed money from, whereas Chapter 13 involves asking for permission to pay half of your debt
C: Chapter 7 involves the government selling your assets to repay your debt before discharging it, whereas Chapter 13 places you on a 3-5 year repayment plan before your debts are discharged
What percent of your paycheck should you be saving (at least, you can save more but not less)?
A: None, saving money is for people who are scared of taking risks
B: 20%
C: 80%
D: 15%
B: 20%
How are commercial banks different from credit unions?
A: Commercial banks are not-for profit and owned by members, who must share a common bond (such as being in a branch of the military), where as credit unions are for-profit and open to everyone
B: Commercial banks are featured in television commercials, unlike credit unions
C: Commercial banks are for depositing your money, whereas credit unions are for getting credit cards
D: Commercial banks are for-profit and open to everyone, whereas credit unions are not-for-profit and owned by members, who share a common bond (such as being in a particular branch of the military)
D: Commercial banks are for-profit and open to everyone, whereas credit unions are not-for-profit and owned by members, who share a common bond (such as being in a particular branch of the military)
Who was the 44th president of the USA?
Barack Obama
What is the largest lake in the US called?
Lake Superior?
What American war was fought between 1861-1865?
The American Civil War
Who is the most decorated gymnast of all time?
Simone Biles
Which state is famous for country music?
Who is on the $100 bill?
Benjamin Franklin
Which U.S. state has the longest coastline?
Alaska
What was the Trail of Tears?
The forced relocation of Native Americans between 1830 and 1850.
What sport was invented by North American natives?
Lacrosse
Which American has won the most Oscars?
Walt Disney (22 acadamy awards)