William Fremd High School

Consumer EducationCredit Review

A: B:None Few

_______ people can pay for a home without borrowing.

C: D:Some Several

Few

A: B:Debt Consolidation Loan

Unsecured Loan

Which loan has a lower interest rate?

C: D:Secured Loan Credit Card

Secured Loan

A: B:Is not liable for any charges

Is liable for no more than $100 after notifying the issuer

If a credit card holder loses a credit cardand an unauthorized person uses it to buy

goods or services, the owner of the credit card

C: D:Is liable for no more than $50 after notifying the issuer

Is liable for all purchases made

Is liable for no more than $50

after notifying the issuer

A: B:Building credit reputation

The use of goods while paying for them

One disadvantage of credit is:

C: D:The forced saving feature of credit

Impulse buying by credit users

Impulse buying by credit users

A: B:Pawnshop Banker

If you want to get cash for personal property suchas jewelry or a TV, then you need to see a

C: D:Loan Officer Doctor

Pawnshop

A: B:Credit Credit debt

A measure of your credit worthiness is your

C: D:Credit rating Credit card

Credit Rating

A: B:Collateral (Capital) Character

Which of these are not one of the 3 C’sof Credit?

C: D:Credit History Capacity

Credit History

A: B:Do not miss a payments

Start small

Which one of the following is NOT a way toMaintain good credit:

C: D:The balance is due on the next payment

Don’t correct payment mistakes

The balance is due on the

next payment

A: B:0 days 5-10 days

For most credit cards, the grace period is between:

C: D:15-25 days 30-60 days

15-25 days

A: B:Smaller Bigger

Stretching out the repayment time of an installment loan makes the monthly payments

C: D:The same More fun to pay off

Smaller

A: B:Regular Charge Accounts

Circular/Revolving Card Accounts

Visa and MasterCard are examples of a

C: D:Installment Loans Retail Store Accounts

Circular Charge

Accounts

A: B:Consumer Credit Reform Act

Equal Credit Opportunity Act

This Act helps consumers correct credit card billing mistakes.

C: D:Fair Credit Reporting Act

Fair Credit Billing Act

Fair Credit Billing Act

A: B:1% 1.5%

If the annual percentage rate for a Visa cardis 18%, what would be the periodic rate?

C: D:3% 18%

1.5%

A: B:Payments continue on schedule

A finance charge is applied

An acceleration clause in an installment contractStates that if one or more payments are missed

this occurs:

C: D:The balance is due on the next payment

Additional interest is charged to the original payment

The balance is due on the

next payment

A: B:1st Place 2nd Place

What place did the Fremd Girls Soccer team get in

the State Tourney last spring

C: D:3rd Place 4th Place

2nd Place

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