WorksheetsYou & Credit
Total questions: 25
Worksheet time: 12mins
An agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment.
Credit(loan)
Chit fund
Bank
Cheque
What do you call a lender of credit?
Banker
Creditor
Lender
Broker
Your credit "character" is measured using...
Past accounts, borrowing history
Current accounts
Income
Education
Your Credit "capacity" is measured using...
Your place of residence
Your age
Your education
Your income and debts
Your credit "capital" is measured using...
Age
Education
Debts
Assets
DEFINE variable interest rate.
Interest rates that only apply to mortgages
Interest rates that are tied to the price of gold
Interest rates that can change throughout a debt's life
Interest rates that are cheaper than the normal rate
IDENTIFY the excellent credit score.
350-550
600-700
720-800
How can you build a positive credit history as a college student?
Get a credit card but don't use it to avoid more debt
Spend up to your credit limit each month
Become an authorized user on an adult's card
Make only the minimum payment each month
T/F: A negative credit event (bankruptcy) can have a WORSE impact on a higher credit score.
True
False
Person/organization that uses a product/service
Consumer
Loan
Credit
Financial Literacy
Which not-for-profit organization is authorized by Congress and ensures that banks, lenders, and other financial companies treat customers fairly?
Department of Commerce
General Services Administration (GSA)
Consumer Product Banking Commission CPBC)
Consumer Financial Protection Bureau (CFPB)
Which agency protects investors; maintains fair, orderly, and efficient markets; and monitors corporate takeovers.
Internal Revenue Service (IRS)
Securities and Exchange Commission (SEC)
Financial Protection Bureau (FPB)
Financial Industry Regulatory Authority (FINRA)
Which agency operates as the nation's central bank and serves to ensure that adequate amounts of currency and coins are in circulation?
The U.S. Mint
The Bureau of Engraving and Printing
The Office of the Comptroller of the Currency (OCC)
The Federal Reserve
Which agency is responsible for collecting income taxes and administering audits?
Internal Revenue Service (IRS)
Department of Labor
Congress
Financial Crimes Enforcement Network (FINCEN)
Which not-for-profit organization enforces laws against discrimination and takes actions against predatory lenders?
Consumer Counseling Credit Service (CCCS)
Financial Deposit Enforcement Corporation (FDEC)
The Federal Reserve (the Fed)
Consumer Financial Protection Bureau (CFPB)
This is a consumer request that requires the credit bureaus to deny all access to consumers credit information
credit report
credit bureau
credit history
credit freeze
Someone who promises to pay if the borrower fails to pay.
subscriber
character
cosigner
credit guard services
The ACA did all of the following EXCEPT
Extend the age through which children can stay on their parents' plans
Provided guaranteed coverage for pre-existing conditions
Established price controls for medications
Made dental and vision coverages mandatory.
Capped the profits allowed by private insurance companies
