H&R Block Challenge Quiz

Which of the following types of financial assistance does not need to be paid back?

• Private Loan

• Grant

• Subsidized Loan

• Unsubsidized Loan

If your credit card number is stolen, but not the card, you are not liable for unauthorized use.

• True

• False

After your loan application is submitted, who decides if you get approved for the loan?

• Credit Agency

• Loan Underwriter

• Loan Undertaker

• Credit Bureau

Select the most likely consequence of making credit card payments late.

• Paying the introductory interest rate on the balance

• Paying higher interest rates

• Fees and paying the default interest rate on the balance

• None of these answers are correct

Zach is an authorized user on his parents credit card. What may happen if Zach doesn't use the card in a responsible way?

• Zach's credit may be damaged

• Zach's parents credit may be damaged

• Zach and Zach's parents credit may be damaged

• Neither's Credit is damaged

If interest rates rise, what will happen to the prices of bonds?

• No change

• Interest rates and bond prices are not related

• Increase

• Decrease

What happens if you don't pay your insurance premium for your car?

• You are not insured

• Your are not insured and are driving illegally

• The insurance claim isn't processed and your car doesn't get fixed

• Your car payments will increase

Which of the following can help reduce the risks associated with unexpected bills?

• Emergency fund

• Auto insurance

• Health Insurance

• All answers are correct

Increasing your 401k deduction will ________ your federal taxes in the current year.

• Decrease

• Increase

• Not change

The fee the bank charges the issuer of a bad check is a...

• Returned check fee

• Below minimum balance fee

• Non-sufficient funds fee (NSF)

• Monthly account charge