Banking
This is the type of account you should use for credits and debits
What is...
Checking Account
What is a credit score?
What is saving?
Putting money aside for future expenses, or reducing the cost of something.
What is a 30 second elevator speech?
A brief message about you. It mentions who you are, what do you offer, what are the benefits of working with you.
If there is an error on your credit report, you can dispute it. (True of False)
True
What is the difference between a bank and a credit union?
Credit unions are not for profit, also does not have fees
Banks are for profit, has fees
What is a credit report?
What are..
Documents that list identifying information, your debt and some of the bills you pay, public record information, applications for "new credit" when lenders request a copy of the report.
What is one way that you can save money?
Bank account (CD, Keep the change)
Family/friends
At-home
What is a resume?
A resume is a summary of your experience, education, skills and certification, and volunteer experience.
Does social media/advertising pressure influence your spending habits (True of False)
True
What is an advantage of having online banking?
pay bills
deposit checks
check balances
electronic statements
What are the three credit reporting bureaus?
Experian, Equifax, and TransUnion
Why should you save money?
For your goals
To build wealth
For emergencies
To cover expenses when you have less income
For peace of mind
To get and Keep a job
How long should a resume be (number of pages)?
A resume should be a single page, but if you must no longer than two.
What does a FICO score range from?
300-850
What is a secured credit card?
A secured credit card is backed by a cash deposit you make when you open the account. The deposit is usually equal to your credit limit.
After reviewing his credit reports, Alex realized that he doesn't use his oldest credit card, he closes that credit card account.
Does this make his score go up or down?
Down, credit length
How much money should you have in your emergency savings fund?
$100-$1000
What details or information should be included in your resume?
Summary about yourself, Education, work experience, and skills.
Jake cosigned for his sisters apartment, the landlord did not check his credit. His credit score went down. (Ture or False)
False
What does the acronym S.M.A.R.T (goal) stand for?
What is...
Specific
Measurable
Action Oriented
Reachable
Time-Bound
What makes up your FICO score? (in percentages)
What is...
35% payment History
30% Amounts Owed
Lengths of credit history 15%
New Credit 10%
Credit Mix 10%
What is the rule of 72 used for?
To see how long to will take to double your money.
To estimate the interest rate you have to earn to double your money in a certain number of years.
What is considered hard skills when adding skills and certification on a resume?
Computer technology skills, language skills, data entry skills
Is an 800 credit score categorized a good credit score? (Ture or False)