Assessment of the credit worth of individuals and corporations. It is based upon the history of borrowing and repayment.
100
What are 2 thing needed to qualify for auto insurance?
A valid licence and your automobile must not be rated or used commercially.
100
What is the difference between a debit card and a credit card?
A debit card immediately withdraws the money spent form your account, where as a credit card sends you a bill at the end of the month for the amount you've spent.
100
What are to ways to save money.
Eg.
Use coupons and turn off lights when not in the room
100
Canadian residents age 18 or older can contribute up to what amount annually to a TFSA. (Tax Free Savings Account)
$5,000
200
What is the average number for a good credit score?
700
200
You have just indorsed your insurance policy, what have you done to it?
Changed it
200
ON average and American house hold receives how many credit card offers a month?
Six
200
What is Interest?
A portion of the amount borrowed added to the total as a late fee.
200
What is a tax free savings account?
A bank account that allows you to with drawl, deposit and set money aside tax free.
300
How long does negative information stay on my credit file?
6 or 7 years
300
This kind of ocean marine insurance provides coverage for physical damage to a ship. What is it called?
Hull insurance
300
What was the first company to offer a credit card that could be used at multiple locations?
The Diner's Club in 1950
300
What is a Mortgage?
A loan given to a person usually from a bank in order to buy a house.
300
Who do Tax Free Savings Accounts apply to?
Only Canadian residents
400
In order to establish a good credit history you must . . . . .?
Make at least a minimum payment on your credit card on or before the due date.
400
A bunch of items are stolen from your vehicle and are valued at $4,800. What type of insurance would this loss be covered by?
Homeowners(Personal property is not covered by auto insurance)
400
What does Visa stand for?
Visa International Service Association
400
What is Credit History?
The history of a person borrowing and repayment patterns.
400
When did tax free savings accounts first start?
2009
500
To improve your credit rating you can do what? (2 things)
Establish a strong repayment pattern as soon as possible and talk to a knowledgeable credit specialist.
500
You own a home, but you rent it to others. What kind of policy will you need?
Dwelling Fire(covers home itself,liability insurance)
500
What was the first company to use hologram on it's cards to deter fraud?
Master Card
500
Where did the first ATM exist?
London
500
Can you own more than one Tax free Savings Account?