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Debit and Credit Unit - JA Finance Park Flashcards | StudBud
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Debit and Credit Unit - JA Finance Park
Debit and Credit Unit - JA Finance Park
30 terms
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This is used to review the Debit and Credit Unit.
Flashcards
30 cards
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Practice quiz
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Host live
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Questions
30
Answers
1
A credit card provides a pre-approved credit.
False
True
2
You can NEVER increase your credit score.
True
False
3
Who uses financial institutions?
Adults
Account Holders
Almost Everyone
College Graduates
4
Credit is the ability to borrow money.
False
True
5
An example of a financial institution is ...
ATM
Bank
Department Store
School
6
Having a low credit score is good.
True
False
7
Debit cards are considered ...
Buy Now, Pay Now Method
Buy Now, Pay Later Method
8
Internet banking is only conducted online.
False
True
9
Your pets name is a strong password example.
False
True
10
There are three (3) main credit reporting agencies.
True
False
11
Credit cards are handy in emergencies.
True
False
12
A debit card is handy for emergencies.
False
True
13
Debit cards include a monthly bill.
False
True
14
Locking your device is a safety tip.
True
False
15
Financial institutions help you save for the future.
True
False
16
Online banking is where you have to go to an actual building to bank.
True
False
17
Internet banking means using a bank branch to make deposits.
True
False
18
Which is NOT a safety tip?
Report stolen cards
Share password
Sign out of account
Verify website security
19
The lower an applicant's credit score, the lower the risk is to the lender.
True
False
20
Majority of banks offer mobile banking.
False
True
21
You should store your account information on your phone.
True
False
22
Credit cards are considered ...
Buy Now, Pay Later Method
Buy Now, Pay Now Method
23
Lenders use credit agencies to determine ..
All of the options
Applicant credit history
Applicant credit score
Whether there are outstanding defaults
24
Identity theft is a threat to anyone with a good credit score rating.
False
True
25
A bank is a not-for-profit financial institution.
False
True
26
Credit unions are owned by their members.
True
False
27
Lenders consider your credit reports and credit score.
True
False
28
Debit and credit cards are the same.
False
True
29
Paying your credit card bill in full is the best option.
True
False
30
When lenders lend money, they charge an additional fee called?
Credit
Interest
Stock
Debit
