BANKING
Which institution is FOR PROFIT, a bank or credit union?
bank
What is the biggest factor for a person's credit score?
a. amount of credit cards
b. payment history
c. salary
payment history
The amount of money you pay for an insurance policy is the ________.
a. deductible
b. premium
c. claim
premium
An __________ should provide a person with 3-6 months of living expenses.
a. checking account
b. savings account
c. emergency fund
emergency fund
A bull market is when stock prices __________. (rise or fall?)
rise
A person's debit card is linked to his/her ________ account.
a. credit
b. checking
c. retirement
checking
What type of loan is a car loan or mortgage?
a. revolving
b. reverse
c. installment
installment
The higher the deductible, the _______ the premium. (higher, lower)
lower
What are TWO types of fixed expenses?
rent, mortgage, daycare expenses, subscription services, insurance, etc..
Which are NOT examples of payroll deductions?
a. FICO
b. FICA
c. state/federal taxes
d. health insurancee
FICO
Cindy has bounced 3 checks this month! What should she do?
a. change banks
b. purchase bankers insurance
c. get overdraft protection
get overdraft protection
A person's FICO is the same as their __________.
a. FICA
b. credit score
c. tax bracket
credit score
List TWO things that affect how much you pay for car insurance.
age where you live
driving record credit score
marital status miles driven each year
gender type of vehicle
coverage deductible amount
What are TWO types of variable expenses?
groceries, clothing, entertainment, etc..
The ______ oversees stocks and protects investors.
a. FDIC
b. IRS
c. SEC
d. FIFA
SEC
Banks and credit unions are insured for __________.
a. 25,000
b. 250,000
c. they are not insured
$250,000
Experian, Equifax, and TransUnion are the 3 main _____________
a. credit card companies
b. investment banks
c. credit bureaus
credit bureaus
Jackie was involved in an accident that caused $3,000 to her vehicle. She has a $500 deductible, which means:
a. she pays $2,500 to the repair shop
b. she is only responsible for $500
c. her insurance company pays $500 to the repair shop
she is only responsible for $500
Which of the following should NOT be considered when setting a current budget?
a) replacing the transmission on your car
b) replacing a laptop used for your job
c) a last-minute school field trip.
d) a sudden health issue that needs care.
a last-minute school field trip
Who is responsible for collecting taxes for the federal government?
a. INT
b. IRS
c. NCUA
IRS
What is a disadvantage of making purchases online?
a. it is more expensive
b. identify theft
c. banks usually charge fees for online purchases
identify theft
In order to avoid paying interest on your credit card, you must ________________ each month.
a. pay the minimum due
b. pay the balance in full
c. pay by the due date
pay the balance in full
Which is NOT a reason to get insurance?
a. to increase a person's net worth
b. protect a person's assets
c. share the risk with other policyholders and the insurance company
to increase a person's net worth
What is NOT a good way to reduce spending?
a) Cancel any unused recurring expenses or subscription services
b) Use a mobile app to find the cheapest gas station
c) Turn off lights when you leave the house
d) Buy all of your wants at one time.
Buy all of your wants at one time.
What is it called when they take your car away for non-payment?
a. repossession
b. foreclosure
c. credit recovery
repossession