Credit Cards
DOUBLE POINTS!!!
What is the interest rate charged on borrowed money, expressed as a yearly rate?
What is the Annual Percentage Rate (APR)?
What is a numerical representation of a person's creditworthiness?
What is a credit score?
What is the main reason for investing?
Generating wealth
In 2024, total federal revenue was approximately how many trillion dollars?
About $5 trillion
How old was JoJo Siwa when she first appeared on the hit Lifetime Reality TV show "Dance Moms"?
12 years old
This is the maximum amount of credit that a financial institution extends to a cardholder.
What is a credit limit?
What is the term for the ratio of your current credit card balances to your credit limits?
What is credit utilization?
DOUBLE POINTS!!!
When you buy a stock, what title do you receive, indicating you own a small piece of the company?
What is a shareholder
What do we call it when expenditures exceed revenues in the federal budget?
What is a deficit?
What year was the War of 1812?
1812
What is the smallest amount a cardholder can pay on their credit card bill to avoid penalties?
What is the minimum payment?
This accounts for approximately 30-35% of your credit score and reflects your ability to pay bills on time.
What is payment history?
These investment funds pool money from multiple investors to invest in a diversified portfolio of stocks and bonds.
What are mutual funds?
DOUBLE POINTS!!!
Name at least two of the top categories of federal spending.
1. Social Security
2. Medicare
3. defense
4. education
What is the longest lasting #1 smash hit on the Billboard Hot 100 music charts?
Old Town Road
Name at least two advantages of using credit cards.
What are rewards, building credit history, or fraud protection?
Why is having a good credit score important?
It affects loan interest rates, your ability to get loans, and if you're eligible to buy certain items.
What term describes a strategy to reduce risk by spreading investments across different assets?
What is diversification?
Explain the difference between mandatory spending and discretionary spending.
Mandatory spending is required by law (like Social Security), while discretionary spending is determined by annual appropriations (like education and defense)
I am thinking of a number 1-10. Get it right and you get the points
8
Name at least three common types of rewards associated with credit cards.
What are cash back, travel points, and discounts on purchases?
DOUBLE POINTS!!!
What are two instances when your credit score would be checked?
What are applying for a loan or renting an apartment?
What type of investment includes high risk but also potential high reward?
Hedge Funds
What is the approximate U.S. Federal Debt at this current moment?
$33 Trillion
What is the cutest animal in the world?
African Rhino
What is the difference between revolving credit and installment credit?
Revolving - You can borrow up to a credit limit, repay it, and borrow again.
Installment - You receive a lump sum of money and pay it back in fixed amounts over a set period of time.
What is a perfect credit score? What range is a "good" credit score?
850
~670 & up
Give 3 Examples of a hedge funds
Derivatives, short-selling, and leverage
What is the total federal expenditure in 2024?
What is approximately $6.3 trillion?
Where is the best place for high school students to use the bathroom?
A litter box.
Its 2024.