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WorksheetsFantastic Financiers Quiz
Total questions: 15
Worksheet time: 10mins
What are the two main types of banking accounts?
Checking
Debit
Savings
ATM cards
What should you do to build a credit history?
Make good grades in school
Play at least 3 different sports
Open a savings account
Apply for a small loan
Get a job
Some examples of collateral are ...
Car
Food
Clothes
House
Bad credit events like late payments or not paying back a loan can stay on your credit report for how long?
60 days
1 year
5 years
7 years
10 years
You should try to work at a job for at least a year because
You will get a better job in the future
It is fun to work with your friends
Time flies when you're having fun
It will help your credit score
Paying your June energy (electric) bill is an example of
single payment
revolving payment
installment credit
A car loan is an example of
single payment credit
installment credit
revolving credit
Buying a ring using your credit card and then paying off the charge over several months is an example of
single payment credit
installment credit
revolving credit
Does a creditor have the right to deny credit to someone because they are not married?
Yes
No
If a creditor denies you credit, what must he do?
Tell you why he didn't give you the loan.
Give you the name and address of the credit reporting bureau that he got his information from
Give you a check for $50 so you can get a loan somewhere else.
Examples of capacity considered when you are trying to get credit include
If you have a steady job
How big of a house you are trying to buy
How much your current debts and expenses are
How many friends you have
Ways that you can show that you have capital are...
Money in your checking account
How many credit cards you have
Money in your savings account
What kind of car you drive
Conditions, when applying for credit can include
How well the economy is doing
If sales have been up in stores across the country
The number of people who have foreclosed on their houses in the past 6 months
What the weather is like at the North Pole
If you are several months late paying for your car, they can repossess it because
The car was collateral for the loan
The car was capital for the loan
If the amount is different on the line where you write the amount in words than the amount written in numbers, what will the bank do?
Refuse to accept the check
Accept the check but go with the amount written in words
Accept the check but go with the amount written in numbers
Laugh at you for making a mistake
