1) Which of the following is a financial mistake? a) Getting a large tax refund b) Paying the full amount on your monthly credit card bill c) Using a budget to track where your money goes d) Save money 1st, then spend the remaining on your needs/wants 2) Why isn't getting a large tax refund the best money habit? a) You're withholding the right amount from your paycheck b) You earn interest on the refund c) You could be putting that money towards savings/retirement d) You have access to that money in case of an emergency 3) Which of Monique's actions is a classical financial pitfall? a) She installed antivirus and spyware protection on her laptop b) She gave her info to someone who claimed to be a bank teller c) She used a secured network when working at the coffee shop d) She rented her textbook via amazon.com 4) When might it be a good idea to see a financial advisor? a) When you're successful in accomplishing your financial goals b) You're on track towards achieving your retirement goals c) If you got married or your tax situation changed d) If your salary remains relatively the same 5) How do people get trapped in the payday loan cycle? a) Customers usually only need to borrow money once b) Customers may visit several payday loan lenders to get $ c) Lenders typically give loans out with a low APR d) Lenders typically give out long-term loans 6) True or False: Most borrowers use payday loans to cover emergencies. a) True b) False 7) Who are the primary lenders of title loans? a) Local banks and financial institutions b) A few private institutions c) Large, publicly traded companies 8) If you decide to pawn an item of yours, which of the following is TRUE? a) You will not pay extra charges besides the APR b) You cannot sell an item to a pawnshop c) The loan amount is usually = to the value of your item d) If you don't come back for you item, the pawnshop keeps it 9) What strategies do most predatory lenders use to attract customers? a) Short-term loans b) Quick access to cash c) High interest rates 10) What is a disadvantage of a rent-to-own transaction? a) A credit check is not always necessary b) The consumer ends up paying more than the value of the item c) There are usually no down payments needed d) The item may be delivered to your house or apartment 11) What can help you avoid a financial pitfall if you move in with your significant other? a) Have one person pay the security deposit b) Purchase pieces of furniture separately c) Join your finances into shared accounts d) Verbally agree on how you want to share expenses 12) When lending money to friends and/or family, which option should you NOT consider? a) Say "yes" 90% of the time to their requests and "no" 10% b) Figure out other ways you can help, such as a yard sale c) Be firm and clear in your communication d) Get everything in writing 13) What is a risk of co-signing a loan for a family or friend? a) You are likely to get a higher APR b) You become the primary borrower on the loan c) You have a shorter loan term d) You may be held responsible for the debt 14) If you win the lottery, you should NOT... a) tell a select, few people b) abandon having a budget c) consult a financial advisor d) pay off your debts 15) The probability of winning the lottery is... a) 1 in 1,000,000 b) 1 in 100,000,000 c) 1 in 75,000,000 d) 1 in 175,000,000 16) Which of the following is FALSE about missing a credit card payment? a) Paying less than the minimum amount is NOT considered as missed b) Your interest rate may increase c) You get a bad mark on your credit report d) You are charged a late fee 17) Under Chapter 13 bankruptcy, you... a) repay all or part of your debt using a 3-5 year repayment plan b) must prove your income is less than the state's median family income c) you have all or part of your debts discharged d) must get credit counseling 18) If you declare bankruptcy, which of the following debts will be discharged? a) Student loans b) Credit card debt c) Employer withholding taxes d) Mortgage and auto loans 19) How can identity theft impact you? a) You may get new credit card offers in the mail b) You can get a lower interest rate on an existing loan c) You may be rejected for new lines of credit d) ID theft doesn't impact you, only your credit score 20) Filing for bankruptcy is a big deal! Which is a consequence of filing for bankruptcy? a) You'll have to close any exiting accounts at banks b) Your interest rates will decrease c) Credit lenders will reach out to you with new offers d) You won't be able to open new lines of credit

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