Banking and Finance Quiz

Which of the following cannot be covered by insurance?

• Fire damage

• Car accident

• Power outage

• Lost items

What helps you have higher approval rates for loans and credit cards?

• Good credit

• Poor credit

• No credit

Will needs a better way travel to and from work. What type of loan does he need?

• Home equity

• Business

• Auto

• Mortgage

Insurance is the way a person or business is protected from:

• losing value

• losing investments

• losing money

• losing interest

Rachel plans her credit card purchases and she pays her balance off each month. She is using credit wisely.

• True

• False

What is the biggest factor that affects someone's credit?

• Number of accounts

• Amount of debt

• Payment history

• Age of accounts

What can affect whether banks or other financial institutions are interested in offering an individual a loan?

• Personal credit

• Financial knowledge

• Financial experience

• Business credit

Frank has ten dollars. If he does not spend any of the money, it will keep its worth of ten dollars. How is that using money?

• A medium of exchange

• A unit of measure

• A store of value