Financial Fun

What is credit?

• A long term savings account

• A loan you agree to pay back at a later time with interest & fees

• A short term savings account

• A share in a company

What are the 3 Cs of Credit Worthiness?

• character, cash, and checking

• cash, consumer, and charge

• choice, checking, and capacity

• character, capacity, and collateral

Which of the following are illegal and deceptive practices?

• employee discounts

• deceptive advertising

• credit offers

• aggressive salesmanship

According to the Rule of 72, how long will it take for $250 to double in an account earning 9% interest?

• $500

• 9 years

• 6 months

• 8 years

Which of the following NOT an advantage of having a savings account?

• Savers can withdraw money as needed.

• Savers can earn interest on their money.

• Savers can maintain small balances

• Savers can earn higher interest rates than other optiobns

What is a credit limit?

• The minimum amount you can borrow

• $500

• The maximum amount you can borrow

• How long it takes your investment to double

Bill get $50 for his birthday and deposits it into his checking account. What is the opportunity cost of depositing the money?

• He will not be able track his money growth.

• He will not be able to get his money when he needs it.

• He will not be able to spend it immediately

• He will not earn interest on his money

Tools, machines, and other devices that make work faster, easier, and more efficient are what type of resources?

• Human resources

• Natural Resources

• Capital Resources

• Productive Resources

Mutual Funds are what type of investments?

• Short term

• Long term

• Medium term

What is the relationship between productivity and standard of living?

• The higher the productivity, the higher the standard of living.

• The higher the productivity, the lower the standard of living.

• The lower the productivity, the higher the standard of living.

• No relationship