Credit General
Credit or Debit
Credit Score
Stock Market
Investing General
100

Student loans are installment credit. What type of credit is a credit card?

Revolving

100

What's the difference between a debit card and an ATM card?

ATM card only for taking cash at ATM - not able to use for purchases

100

What is the name of the most common credit score for individuals?

FICO

100

Which word best matches stockholder?

lender

owner

borrower

seller

owner

100

Which is the likeliest key to successful long-term investing?

guaranteed returns

steady habits

steady inflation

age

steady habits

200

Which method is most common for determining minimum payments? 3 words

Average daily balance

200

Mastercard and Visa logos are only seen on credit cards.  True or False

False

200

When your credit is checked for the purpose of extending credit, this is called a ________ _________, and it affects your credit score.

hard inquiry

200

What is the most signficant long-term factor in stock prices?

long-term performance/profitability of companies

200

What is tax-deferral?

legally paying taxes later

300

Two advantages to using credit cards:

safety, warranties, tracking, points, convenience...more?

300

Department store cards (Kohl's, Old Navy) are always credit or debit cards?

credit

300

What are two ways a higher credit score can benefit a consumer?

lower interest, car insurance

300

What are the two principal ways to earn money through stocks?

Buy/sell/hold = trading

Dividends

300

3 words: ________ _______ ____________

A method of managing investment risk.


dollar cost averaging

400

What indicators show that someone is likely ready to use credit cards responsibly?

budget, EF, spending under control, goals, steady income, understanding of interest

400

In general, regular debit card activity (purchases, cash withdrawals) affects what % of your credit score? 

0

400

Which is a valid FICO score?  

79

7.9

790

790

400

A single stock to a mutual fund is like:

rain to snow

a bond to a certificate of deposit

an apple to a fruit basket

a dollar to a bitcoin

an apple to a fruit basket

400

The higher the potential for return, the __________ the risk.

higher

500

Two risks/downsides to using credit cards:

overspending, interest, gimmicks, quick hit to credit score

500

Which has a larger marketshare on debit cards, VISA or Mastercard?

VISA

500

The term for how much of your available credit you are using:

available rate

utilization rate

default rate

limit rate

utilization rate

500

A _________ _________ is a list of stocks that tracks the performance of a stock market or a part of it.

stock index

500

This type of individual retirement account allows for penalty-free withdrawals (of principal) at any time.

ROTH IRA

NOTE: other items...ready to invest? what is a bond? SEC, credit score components, depreciating asset, dividends, S&P 500, 401k, SEP, tax-exempt