Agencies
The Federal Deposit Insurance Corporation (FDIC) protects consumers by: Investigating fraud OR Insuring commercial bank deposits
Insuring commercial bank deposits
Which account offers low interest rates but allows you to begin saving with a low minimum deposit?
Certificate of deposit OR Basic savings account
Basic savings account
Name one kind of tax that is deducted from an employee's gross pay.
State income tax
Federal income tax
SS and Medicare taxes
Which of the following is an example of a fixed expense?
Mortgage or rent OR Food
Mortgage or rent
Which federal agency monitors the stock market and the stock brokers who buy & sell stock? Federal Trade Commission OR Securities & Exchange Commission
Securities & Exchange Commission
How can a person use a credit card to build a good credit score?
By using credit cards to build debt OR By making credit card payments on time
By making credit card payments on time
What is MOST often the result of additional education and training?
Fewer job opportunities OR Higher income
Higher income
Which of the following is a measure that tells lenders like banks how likely you are to repay a loan?
Interest Rate OR Credit Score
Credit Score
__ are protected by the Better Business Bureau, the Federal Trade Commission, & the North Carolina Attorney General
Consumers OR Business owners
Consumers
Which purchase would most likely require the use of a loan?
Clothing OR a house
a house
What is one advantage of paying for purchases with a credit card instead of a debit card or other cash payment?
Ability to pay for purchases over time OR Increased security
Ability to pay for purchases over time
__ are scams that usually attract investors with promises of high returns and little risk.
Ponzi schemes OR
Identity thieves
Ponzi schemes
In which situation would the Better Business Bureau help a consumer?
When a consumer’s identity has been stolen OR
When a business has cheated a customer
When a business has cheated a customer
If your bank account information has been stolen & used to open a new credit card, of which type of crime are you a victim?
Robbery OR Identity Theft
Identity Theft
You begin a budget by listing your ____ and expenses.
Utilities OR Income
Income
Which part of an individual’s budget helps them by protecting them against unexpected expenses, helps them to prepare for the future, and allows them to prepare for large purchases?
Fixed Expenses OR Savings
Savings
If your credit or debit card is lost or stolen, you should immediately report it to the Local police OR
Bank or credit card company that issued the card
Bank or credit card company that issued the card
Using credit Unwisely can lead to higher interest rates, fees, and ___. Mortgage OR Debt
Debt
Gas, utilities and food are examples of: Fixed expenses OR Variable expenses
Variable expenses
Car payments, rent, and internet are examples of: Fixed expenses OR Variable expenses
Fixed expenses