Pre-Assessment

What are the names of the three major credit agencies in the U.S.?

• Amex, Visa, Mastercard

• Experian, Transunion, Equifax

• Wells Fargo, TD Bank, Bank of America

• Volcker, Greenspan, Bernanke

What kind of credit card can you get with bad credit or no credit score?

• Any, as long as you can find

• a cosigner

• Secured

• Probationary

Which of these statements about saving is true?

• You can categorize expenses as savings if you got a discount on them.

• Consistently saving money each month can help you prepare for the future.

• You only need to save for your long-term goals.

If you have too many credit cards, what should you do?

• request a higher credit limit

• close as many as possible

• close the cards with the lowest balances

• be careful when closing credit cards

With insurance policies, if you never file a claim, you get your money back.

• True

• False

When you pay taxes in the U.S., the more money you earn,

• The less taxes you pay

• The more taxes you pay

• It makes no difference because everyone pays the same amount in taxes

• The more you hate paying taxes

A health insurance program for seniors and disabled individuals that is funded by some of your taxes and administered by the federal government is known as?

• CVS

• State tax

• Unemployment tax.

• Medicare

People who do not understand the difference between ______________ generally have financial problems.

• Taxes and insurance

• Needs and wants

• Buying and renting

• Food and shelter

What is financial literacy?

• knowing and understanding how finance works

• being able to read numbers

• getting good grades in algebra

• getting good grades in mathematics

Your friend wants to buy a new PS5/Xbox Series X system but doesn't have enough money. What is the most responsible financial advice you could give them?

• Put it on a credit card and pay it off later.

• Stop paying rent for a month to buy it.

• Create a savings plan and set aside money until you can afford it.

• Find a way to borrow money from someone else.