Money
Do all countries use the same currency?
No, many countries have their own currency or a group of countries might us the same currency.
Yes, it can positively or negatively affect your credit score.
What is a debit card?
(Answers may vary): A debit card is a plastic card that electronically connects to the cardholder's checking account.
What is a consumer loan?
(Answers may vary) It is a loan, secured or unsecured, which is granted to an individual(s) for the purpose of financing the purchase of goods or to pay for personal expenses.
True or False: You can earn interest if you leave your money in a bank/credit union account.
True, most banks/credit unions will give you interest for leaving your money in an account with them. Depending on the account the amount of interest earned can vary.
True or False: Having a debit card can impact your credit score.
False: A debit card does not impact your credit score because it is not a form of borrowing money.
What is a credit card?
(Answers may vary) A card used for purchases that lets you borrow up to the credit cards limit.
Name 3 things consumer loans are used for.
(Multiple answers) buying a car, buying a house, going to school, paying off debt, personal expenses, etc.
What is the range of numbers for credit scores? a. 0 - 1000; b. 350 - 900 ; c. 300 - 850 ; d. 500 - 1000
c. 300 - 850
True or False: Credit card limits are the same for everyone who applies.
False: credit card limits vary depending on the cardholder's creditworthiness and the chosen credit card product.
What is the principal? (In regards to banking, not school)
The principal is the amount of debt, not including the interest, left on a loan.