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Cash & Credit Flashcards | StudBud
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Cash & Credit
Cash & Credit
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Questions for Mr. Moore's Money Management Class
Flashcards
16 cards
F
Practice quiz
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Questions
16
Answers
1
What is the minimum credit rating to be considered "EXCELLENT"?
660
600
680
720
2
What does the "I" in FICO stand for?
Interest
Insolvent
Isaac
Insurance
3
What is the name given to a price reduction from the regular selling price?
Markdown
Unit Price
Sale Price
Sales Tax
4
You can damage your credit score by applying for too many credit cards at one time?
True
False
5
Which of these values is subtracted from the previous balance to calculate your new balance?
Previous Balance
Payments
Finance Charge
New Purchases
6
How much of your credit card spending limit should you use?
50% to 60%
70% to 80%
5% to 10%
30% to 40%
7
Which of these is NOT issued by a bank?
Credit Card
Charge Card
Savings Account
Debit Card
8
What is the maximum credit rating?
750
900
850
1,000
9
What type of price do you evaluate when comparison shopping?
Sale Price
Unit Price
Markdown Rate
Guide Price
10
Which of these is an advantage to using a credit card?
Interest Rates
Annual Fees
Spending Limit
Fraud Protection
11
The average daily balance method ALWAYS increases the finance charge.
True
False
12
The Unpaid Balance times the Period Rate gives the...
Sales Tax
Finance Charge
Interest Rate
Markdown rate
13
What is the PA State Sales Tax?
7%
3.5%
3.07%
6%
14
What arithmetic operation do you perform to calculate unit price?
Division
Multiplication
Subtraction
Addition
15
What is a certificate that entitles the customer to an immediate price reduction?
Mail-in Rebate
Coupon
Markdown
Universal Price
16
How do you calculate the total purchase price of a product?
Subtract the sales tax from the selling price
Multiply the selling price by the sales tax.
Divide the selling price by the sales tax
Add the sales tax to the selling price
