DEFINITIONS
Issue of money, goods or services to an individual or entity with the expectation f future payments.
Credit
Employability skills are sometimes called...
Soft Skills
Rent, electricity and car payments are an example of....
fixed expenses
How many years do students have to pay off a loan using the Income Sensitive Repayment Pan?
A. 15 yrs
B. 20 yrs
C. 30 yrs
A. 15 yrs
trusted institutions where money is kept secure
Bank
Provides a line of credit from a lending institution which can be accessed with a card, has a maximum limit (credit limit) which can be spent and requires monthly payments.
Credit Card
Keeping a schedule can help to improve teamwork skills
FALSE: Participating in extracurricular activities can help improve teamwork skills
Expenses like laundry car loan payments, and cell phone are known as ...
Day to day expenses, while a tuition wouldn't be classified as a personal expense
If a student cannot repay their loans, they should do which of the following?
A.Avoid paying their monthly bill
B.Change their repayment plan
C.Avoid consolidating their loans
B. Change their repayment plan
Process of borrowing money from an individual or investor without a banks consent
Peer-to-peer lending
maximum amount being loaned to the borrower by the creditor
Revolving Credit
Planning requires knowledge and understanding of the organization's goals and available resources.
TRUE!
Expected family income, year of enrollement and the cost of attendance all...
Financial eligibility depends on expected family income, year of enrollement and the cost of attendance all, unlike a GPA
which of the following defines interest rate factor?
A. the amount of money which has yet to be paid on a loan
B.The daily rate of interest on the loan
C. The number of days since the students last payments.
B. The daily rate of interest on the loan
amount of money charged by a bank to borrow money
Interest
Right to keep possession of property of another until a debt owed by a person is discharged
Lien
A spender is a personality trait of a person who enjoys spending their money either on themselves or others rather than saving it
TRUE!
Interest rates, repayment loans and loan consolidations are examples of....
Loan repayment consideration
Which of the following is considered a private university?
A. University of Notre Dame
B. University of North Carolina
C. University of Florida
A. University of Notre Dame
short-term,high cost loan typically for 500$ or less and due on the next payday or when income is received.
Payday loan
Draws money directly from the consumers checking account when a purchase is made.
Debit Card
Being engaged in communication and showing others you care about a conversation requires puttuing yourself in someone else's shoes... TRUE OR FALSE?
FALSE: Using body language, eye contact and facial expressions shows others you care about a conversation
Financial resources, student engagement and graduation rates are examples of ....
Roles in academic reputation
Which of the following is most likely as admission requirement?
A.Test Scores
B.Financial Needs
C. Student involvement
A. Test Score
determines a series of fixed or installment payments borrower must repay over a determined period of time
Installement payment