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WorksheetsFinances and Personal Credit Review
Total questions: 27
Worksheet time: 9mins
A short term financial goal is anything you want to achieve WITHIN a year
True
False
Debt is unavoidable part of life for most people
True
False
The term APR stands for Annual Percentage Rate
True
False
The average interest rate of a savings account is between 0.5% to 1.00%
True
False
The three big credit card companies in North America are...
Visa, American Express, Discover
Mastercard, American Express, Visa
Mastercard, Venmo, American Experess
Visa, Mastercard, Discover
Assets that depreciate the most in value include houses and classic artwork
True
False
A withdrawal is...
The amount of money you are putting down on a big purchase
The dollar increase in the price of goods and services that happens over time
Money being taken out of your bank account
Money being put into your bank account
Overdraft is...
The money that gets put into your bank account, usually in the form of a cheque
When you make a large purchase and you don't have the total amount of money, the bank will charge this
The amount of money you are putting down on a big purchase
Money being put into your account
Deposit is...
Money you are putting down for a big purchase
Money that you are taking out of your bank account
Money that goes into your bank account, either by yourself or an employer
Money being taken out from your pay cheque (taxes or for retirement)
Down payment is...
The amount of money you are putting down for a large purchase
The money that you take out of your back account
The money that goes into your account, usually in the form of a cheque from an employer
The dollar increase in the price of goods that happens over time
Inflation is...
money being taken out of your account
money being put into your account
the dollar increase in the price of good that happens over time
the amount of money you are putting down for a big purchase
Appreciation is
what i feel for Mr. Gill's presence
when you purchase something that goes up in value, over time
when you purchase something that decreases in value, over time
Depreciation is..
When something you purchase goes up in value, over time
When something you purchase goes down in value, over time
What is your network?
Assets + Liabilities
Assest - Liabilities
Debt - Assets
Debt + Liabilities
A deduction is the amount of money deducted from your paycheck that usually is the result of taxes and retirement
true
false
CVC stands for?
Card Verification Code
Credit Verify Card
Credit Variance Code
Card Verification Core
Which rate is flexible and has a percent that can flucate?
Fixed
Varied
Flex
None of the above
What are the 3 M's of budgeting?
Management, Monitor, Money
Management, Maintain, Monitor
Maintenance, Monitor, Management
Money, More Money, Moneyyy
An annual fee is something you pay every...
Year
Day
Month
Week
What does PIN stand for?
Personal Identity Number
Personal Identification Number
Protection Identity Number
Password Initial Number
The amount of credit extended to a borrower is called
A line of credit
Balance
Overdraft
Appreciation
Credit card debt is easy to fall into because "small and minor purchases add up"
True
False
The #1 rule to stay out of credit debt is...
Don't spend money you don't have
Don't spend your parent's money
Sign up for all the credit cards you can
Don't make any payments on your credit cards
Your credit score is
a 6-digit number that shows how well you manage credit and how risky it would be for a lender to lend you more money
a 4-digit number that shows how well you manage credit and how risky it would be for a lender to lend you more money
a 5-digit number that shows how well you manage credit and how risky it would be for a lender to lend you more money
a 3-digit number that shows how well you manage credit and how risky it would be for a lender to lend you more money
Credit bureaus and lenders share the actual formulas they use to calculate credit scores
True
False
Who are the two main credit bureaus that create your credit report and credit score?
TransUnion and TD Bank
TransUnion and ScotiaBank
TransUnion and Equifax
TransUnion and the CRA
Mr. Gill is...
A twilight superfan
Funny
A short king
Sarcastic/Sassy
