JA Unit 3 & 4 Test Quizizz

What are three advantages of a credit card?

• Builds credit history
• You can buy now and pay later

• Reward cards give you money back or you get points for flights or purchases

• Interest rate can be very high so you pay a lot of interest on the card balance

What are three kinds of personal information will you find on your credit report?

• Your credit score between 350-850

• A list of existing and closed loan accounts

• Your parent's credit information

• A record of payments made on time or made late

What are three examples of Financial Institutions?

• ATM Machine

• Savings & Loan

• Credit Union

• Bank

What is a group of people that use financial institution? Only ONE is completely correct!

• Only people with a high credit score

• Anyone who has a job

• Anyone that has a checking account, savings account, or who needs a loan

• Only people who are at least 18

What are goods and services people cannot survive without such as food, water, and shelter?

• Needs

• Wants

• Desires

• Dreams

What are three things you can do with discretionary income that is left after all the bills are paid?

• Pay bills

• Give to Charity

• Take a friend on a date

• Buy something you have wanted for some time

What are three primary purposes of a budget?

• To waste your money before you pay bills

• To keep track of your spending

• To save for the future

• To keep from spending too much

What is debt?

• Money someone owes you

• Money left over in your budget

• Insurance against risk of loss

• Money you owe

What is a NOT-For-Profit financial institution owned and controlled by its members?

• Savings & Loan

• Bank

• ATM Machine

• Credit Union

What is interest?

• The fee received or paid for the use of money

• What you have after you have all your bills paid

• The money you are paid for working

• The money you get for selling a car