Guess the Term
A score that evaluates your promise to pay back a sum of money or goods of equal value at a later date
What is Credit Score?
Lender
What is the individual or entity providing the funds (bank or financial institutions)?
Credit Unions offer similar services as banks.
What is True?
What is the grace period before you must begin repaying a Direct Subsidized Loan?
What is six months? It begins the day after you graduate or leave school.
What is the highest possible credit score?
A) 750
B) 850
C) 800
D) 650
What is...
B.) 850
Promise to pay back a sum of money or goods of equal value at a later date.
What is Credit?
Principal
What is the amount of money borrowed.
Grants are no longer offered to students in graduate school.
What is True? In Graduate School, loans and scholarships are offered to students. Grants are no longer offered.
How can I start buying stocks?
What is research and buy stocks that interest you and monitor your portfolio weekly?
What is the lowest possible credit score?
A) 300
B) 450
C) 350
D) 500
What is...
A.) 300
The individual or entity receiving the funds
What is a Borrower?
Income Tax
What is a government-imposed tax on an individual's or entity's earnings, including wages, salaries, and other forms of income?
Ideally, an emergency fund should ave at least six months worth of expenses.
What is True?
What is the difference between unsubsidized loans and subsidized loans?
What is subsidized loans interest is paid by the government while you’re in school while unsubsidized loans interest is paid by you, even while in school?
What is the primary function of a broker at a bank?
A) Approving loans
B) Managing customer savings
C) Facilitating buying and selling of securities
D) Printing account statements
What is...
C) Facilitating buying and selling of securities
The fee charged by the lender to the borrower for the use of the money
What is Interest?
Bull Market
What is a financial market condition in which asset prices are rising or are expected to rise, usually accompanied by investor confidence, optimism, and increased buying activity?
Unsubsidized loans are only offered to undergraduate students.
What is False?
Is there a way to avoid interest?
What is always pay your full credit card balance by the due date. For loans, pay early or extra to reduce interest.
What is one downside of high-yield savings accounts?
A) They are not FDIC-insured
B) Interest is paid in cryptocurrency
C) Limited monthly withdrawals
D) They have no customer support
What is
C) Limited monthly withdrawals
A transaction where one party, the lender, provides a sum of money (or another asset) to another party, the borrower, with the expectation that the borrower will repay the principal amount plus additional charges.
What is a Loan?
Bear Market
What is a financial market condition in which asset prices are falling or are expected to fall, often accompanied by investor pessimism, fear. and reduced buying activity?
You should only spend what you can afford to pay back in full each month and keeping your credit utilization ratio below 50%.
What is False? You credit utilization ratio should be kept below 30%, and ideally 10% to maintain excellent credit.
What is a common risk associated with investing in foreign bonds?
What is currency exchange risk?
What is the purpose of a W-4 form?
A) Report annual income to the IRS
B) Claim dependents and adjust withholding
C) File your tax return
D) Apply for an employer identification number
What is...
B) Claim dependents and adjust withholding