Show:
Credit
Loans
Scholarships & Miscellaneous.
Banking
Investing
100
What can give you an immediate loan for the cash you don't have?
Credit Card
100
True or False. Some scholarships are the same as loans where you have to repay the money back
False. You do NOT have to pay back scholarship awards, UNLESS you did not follow or meet the rules and guidelines.
100
What is the name of the scholarship offered by Valencia College?
Valencia Foundation Scholarship
100
True or False. All ATMs from your bank are free
False. Depending upon your bank, they could charge you for using their ATM.
100
True or False. Investing early with less money will make you more money than investing at a later age with more money to invest.
True.
200
The summary on how you handle your debt is called?
Credit Score
200
These are loans offered to students to attend school
Subsidized, Unsubsidized, Parent Plus, and Private Loans
200
What is the nick name for the Financial Learning Ambassadors? A.) Budgeting Ninjas B.) Money Team C.) Finance Squad D.) The Benjamin's
B.) Money Team
200
In this type of establishment, depositors are called members who have ownership of the institution
Credit Union
200
In our example, who made more money investing? Ben or Arthur?
Ben, making $2,288,996
300
What percentage of your credit score is made up of your "Payment History" A.) 40% B.) 35% C.) 45% D.) 30%
B.) 35%
300
True or False. For a Direct Subsidized loan, you don't have to demonstrate financial need.
False. For a Direct Subsidized loan, you MUST demonstrate financial need. However, for a Direct Unsubsidized loan, you do not need to demonstrate financial need.
300
What does FAFSA stand for?
Free Application for Federal Student Aid
300
True or False. In a Credit Union, you must become a member in order to receive services offered.
True. Credit unions are organized to serve the interest of its members.
300
Which of the following is NOT a risk free investment A.) Savings Account B.) Certificate of Deposit C.) Money Market Account D.) None of the above
D.) None of the above: they are all risk free investments
400
What percent of people between the ages of 30-39 have excellent credit? A.) 13% B.) 29% C.) 22% D.) 31%
C.) 22%
400
What is the 8-10% Rule
A loan should not exceed 8-10% of your total gross monthly income
400
There are scholarships for almost everything EXCEPT A.) If you prefer pepsi or coke B.) Being left handed C.) Having foreign heritage D.) If you have red hair
Trick Question. All answers are valid. Scholarships and their requirements all depend upon the person giving out the award.
400
Which of the following is NOT a characteristic of Banks A.) Board members are paid B.) Depositors are called customers C.) Customers can have ownership of the institution D.) Owned by stockholders
C.) Customers do NOT have ownership of the institution. This is only true for credit unions
400
A game of chance for money is called what?
Gambling. Gambling and Investing are not the same. Gambling has to do with chance, while Investing involves intellect and strategy.
500
Which of the following is NOT seen in your credit report? A.) Inquiries into applicants credit history B.) Summary of credit history C.) Personal Data D.) Information on how to dispute what is seen on the report
Trick Question! All of the above are seen in your credit report
500
True or False. Direct Subsidized Loans are only for undergraduates demonstrating financial need, while Direct Unsubsidized Loans are for both undergraduates and graduates of whom are not required to demonstrate financial need.
True.
500
Pick a number between 1-10. The team closest to the right number gets the points.
Answer: The number 1
500
Taking out more money than what you have in your bank account is called what?
Over drafting
500
From our example, at what age did Arthur start investing? A.) 25 B.) 27 C.) 29 D.) 31
B.) 27