PCC Managing Your Money

Which crime refers to someone wrongfully obtaining and using another person’s data?

_____________________ refers to a crime in which someone wrongfully obtains and uses another person’s personal data through ______________.

• First Blank: Bad credit history

• First Blank: Check bouncing

• First Blank: Identity theft

• Second Blank: consent

• Second Blank: fraud

A ____________________ is a check that you have written that you cannot pay due to ________________.

• First Blank: cleared check

• First Blank: misplaced check

• First Blank: bounced check

• Second Blank: excessive funds

• Second Blank: insufficient funds

_________________________ is the interest that the bank pays you on the principal plus on the _____________________ that you earned the preceding year.

• First Blank: Simple interest

• First Blank: Compound interest

• First Blank: Complex interest

• Second Blank: interest

• Second Blank: cash back

____________________ refers to borrowing money from a bank.

• Interest

• A loan

• Credit

Joshua took a loan of $50,000 with a repayment period of five years from a bank to start his own business. Every month he has to pay the bank $900 to repay the loan.

What type of credit is demonstrated in this scenario?

• installment credit

• revolving credit

• secured credit

• unsecured credit

Hugh is a successful businessman. He always maintains a high bank balance. Hence the bank pays him interest. Hugh uses this account frequently for various purchases.

What type of bank account does Hugh have?

• money market account

• savings account

• checking account

• interest-bearing checking account

• certificate of deposit

Rosalyn bought a new TV for her apartment with her credit card. Which type of credit is demonstrated in this scenario?

• installment credit

• secured credit

• unsecured credit

• long-term credit

Lydia received her bank statement for the month and she is now comparing it with the transactions that she logged in her checkbook register. After calculating the transactions in the statement and he checkbook register, she realized that the statement showed more balance than her checkbook register.

What could be the reason behind this discrepancy?

• ATM withdrawal not logged in the checkbook register

• bank interest payment

• penalty for exceeding transaction limit

• banking fee

Ted is a highly qualified individual. He recently had an interview for the position of a bank manager. The interview went well. But after a few days, he got a letter from the bank saying that he has been rejected for that position.

Why do you think the bank refused to give him the job?

• few bank accounts

• good credit score

• poor credit score

• good credit record

Hilary applied for a home loan from her bank. The bank is willing to give her the loan but at a very high interest rate.

Why do you think the bank is charging her a high interest rate?

• good payment history

• bad payment history

• low amount of credit left

• high number of bank accounts