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Jouer Froggy Jumps
1. How many months of expenses should you have saved?
A
3 to 6
B
1 to 3
C
6 to 9
2. How much money should you have saved in your emergency savings?
A
$100
B
$1,000
C
$500
3. What percentage of your paycheck should you put into your savings account?
A
1% or 3%
B
10% or 20%
C
5% or 9%
4. What is the definition of a credit card?
A
A government-issued financial aid
B
A type of insurance policy
C
A form of borrowing money with interest
5. Your credit score is an excellent measurement of how much money you have saved up.
A
FALSE
B
TRUE
C
NEITHER
6. The interest paid on a loan is...
A
The original amount borrowed
B
The original amount borrowed plus a fee
C
Price you pay to borrow money
7. The amount you pay on insurance is called?
A
payment
B
premium
C
deductible
8. Which statement best describes a secured loan?
A
A loan where interest rates never change
B
A loan with no collateral required
C
A loan backed by collateral such as a car or house
9. The largest portion of your credit score reflects your payment history, so what is one of the worst things you could do to negatively affect it?
A
miss a payment on a loan
B
pay off all your credit cards every month
C
borrow less money
10. Which of the following is good advice when it comes to maintaining a good credit score?
A
Borrow as much as possible and then declare bankruptcy
B
Borrow as little as possible and pay it back on time
C
Borrow as little as possible and pay it back whenever you feel like it
11. What form of financial exchange involves directly transferring money from one bank account to another?
A
Debit card
B
Electronic transfer
C
Mobile payment application
12. What is a characteristic of revolving credit?
A
One-time loan
B
Fixed amount borrowed
C
Flexible spending limits
13. Which of the following would be considered a good credit-to-debt ratio to help your credit score?
A
25%
B
50%
C
75%
14. The ability to pay back money borrowed is...
A
Loan
B
Principal
C
Credit
15. Which form of financial exchange provides a convenient way to make purchases without carrying physical currency?
A
Check
B
Debit card
C
Cash
16. What does "FICO" stand for?
A
Free Information Corporation
B
Federal Insurance Corporation
C
Fair, Isaac and Company
17. What makes up the biggest factor of credit score?
A
Payment History
B
Amounts Owed
C
Length of Credit
18. What is a common form of financial exchange that allows individuals to send money to others using their smartphone?
A
Mobile payment application
B
Debit card
C
Check
19. What is the benefit of having a high credit score?
A
Banks will lend you money for free.
B
Banks will actually pay you to borrow money from them.
C
Banks will give you "better terms" (i.e. low interest rates) when you borrow money from them
20. Which of the following is a good strategy for increasing your credit history?
A
Get a credit card early in life, but use it very sparingly and pay it off every month.
B
Never apply for a credit score
C
Wait until you are 40 years old before using a credit card
21. What type of interest rate can change throughout the loan term?
A
Fixed rate
B
Variable Rate
C
Standard rate
22. What type of loan needs collateral?
A
Secured Loan
B
Unsecured Loan
C
Favor Loan
23. Which of the following would NOT be considered a main type of credit?
A
taxable
B
installment
C
revolving
24. Which one of these items is NOT considered collateral?
A
Investments
B
Automobiles
C
Clothing
25. Having your credit score checked many times could negatively affect it.
A
TRUE
B
FALSE
C
IDK
26. The amount of money you are borrowing is called...
A
Loan
B
Interest
C
Principal
27. Can a bad credit score affect your ability to own a house or start a business?
A
YES
B
NO
C
MAYBE
28. The law requires the three credit score companies to provide you with a FREE credit score each year.
A
FALSE
B
TRUE
C
IDK