stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Depository Institutions, Credit, & Fraud Flashcards | StudBud
Explore
/
Depository Institutions, Credit, & Fraud
Depository Institutions, Credit, & Fraud
22 terms
·
StudBud Administration
·
71 plays
Financial Literacy
Flashcards
22 cards
F
Practice quiz
P
Host live
L
Questions
22
Answers
1
You would make equal payments every month for the duration of a loan when paying off ___ credit
Equilateral
Installment
Open
Revolving
2
Which of these is the best way to prevent credit fraud when using a credit card?
keep cards safe
only use cash
use the same card
no online purchases
3
How is interest most commonly calculated for a credit card?
avg yearly balance
avg monthly balance
avg daily balance
avg weekly balance
4
which of these is typically larger and offers more financial services?
Bank
Credit Union
5
What is the most commonly used type of credit score?
CRITO
NCAC
FICO
FDIC
6
This document includes payment history, cards in your name, and loans in your name
Credit report
Credit score
Credit transcript
Credit review
7
Intentionally deceiving someone for your own financial gain is known as what?
Scamming
Identity theft
Fraud
Smart
8
What does your credit score need to be in order to be considered good?
700
450
650
775
9
When making an online purchase which method of payment is considered most secure?
Credit Card
Debit Card
Check
Cash
10
which of the following is most important to keep safe?
Internet passwords
Driver's license
Credit cards
Social Security card
11
how much do you need to pay on a credit card in order to stay in good standing?
minimum required by the company
half of the balance at the end of each month
10% of the balance
$50 per month
12
Which of the following is not one of the 3 major credit agencies in the world?
Continental
Equifax
Trans Union
Experian
13
Which of the following is an example of revolving credit?
Home Mortgage
Student Loan
Auto Loan
Credit Card
14
Which of these is typically offers better interest rates to its members?
Credit Unions
Banks
15
The time you have to make your payment before being charged interest is known as what?
Grace period
Lag period
Billing forgiveness
Incentive time
16
This is the amount charged for using someone else's money
Loan
Incentive
Interest
Credit Fee
17
What is the greatest advantage, to you as a consumer, in building good credit?
don't have to carry cash
spend more money
make safer purchases
make large/expensive purchases
18
For your personal savings account you would prefer an interest rate that is........
lower
higher
19
If you follow the "20-10" rule, you should never borrow more than ______% of your yearly income
80%
10%
30%
20%
20
which of these is not a major type of fraud?
tax
medical
credit
Insurance
21
For a car loan, you would prefer an interest rate that is....
lower
higher
22
What are the 2 largest credit card companies?
Visa and Trans Pacific
Visa & Discover
Mastercard & Discover
Visa and Mastercard