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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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1
Define What Credit Is
A way to identify the owner of a lost Debit Card
A company that lends a customer money for a period of time
A tool to buy something now and pay for it later
Being recognized by a member of a bank and receiving a gift
2
What is a Annual Percentage Rate (APR)?
Interests calculated in a consistent way
a formula to calculate ones weekly interest
3
TRUE OR FALSE - 20-10 Rule: 20% Monthly payments; 10% Amount Borrowed
True
False
4
Which one of these is a good way to avoid fraud
Pick a common memorable password
Don't be overly cautious
Watch your apps
close your banking account if in danger of fraud
5
What Is A Credit Score?
Your Yearly score on how well you saved money that year
an amount of free cash you receive for using your debit card
A 3 digit number based on the person's credit report
A record of how many times you've used your Credit Card
6
Subprime Borrower
A person of no credit risk but unlikely to be given a loan
A person who is a small credit risk
A person who is a large credit risk
A person with a moderate credit risk
