Ramsey Classroom Final Review Chapters 4 to 7

Banks and lenders use credit scores to determine...

• The likelihood that someone is able to repay debt

• How much collateral someone has available to put up for a loan

• A person's financial responsibility

• How successful someone is

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

Your greatest tool to building wealth is______.

• Your credit score

• Your income

• Single Stocks

• Tax cuts

Leasing a car is a method of financing where someone__________.

• Never pays any interest or fees

• Is paying off two or more vehicles at one time

• Makes monthly payments on but does not own the vehicle

• Does not have to pay any taxes on the vehicle for the first six months

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

Which is an example of an appreciating asset?

• A home.

• A new car.

• Farming equipment.

• A computer.

Once you turn 18, you should regularly check your credit report...

• For errors of signs of identity fraud

• To keep an eye on your credit score.

• To make a plan for improving your credit score.

• Only if you have a credit card.

The debt snowball method involves...

• Waiting until the winter months to begin paying off debt

• Paying off debts from largest to smallest

• Pooling together money from other people to pay off your debt

• Paying off debts from smallest to largest

Tags

CCSS.6.NS.C.5

Credit card companies charge stores a 2-3% fee for every purchase made with credit cards. This is called a(n)...

• Merchant fee

• Cash advance fee

• Annual fee

• Over-the-limit-fee

Tags

CCSS.6.RP.A.3C

How you spend and give your money...

• Can't be changed

• Is the most important thing in life

• Is a reflection of your personal values

• Doesn't matter until you're 40

Tags

CCSS.RI. 9-10.9

CCSS.RI.11-12.9

CCSS.RL.11-12.2

CCSS.RL.8.2

CCSS.RL.9-10.2

As an effective marketing strategy, companies pay a lot to...

• Choose a brand similar to theirs

• Get you to dislike their branding

• Leave you confused with how their product works

• Have their products strategically placed in stores

Tags

CCSS.RI. 9-10.8

CCSS.RI.11-12.5

CCSS.RI.11-12.8

CCSS.RI.8.8

CCSS.RI.9-10.5

Before you insert your debit card at the gas pump, you should always...

• Ask the store clerk if there has been a thief here lately

• Make sure you have enough money

• Check out the card reader to see if it looks different, loose, or worn

• Pay cash-never use a card at a gas pump