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FL Credit#2 - HIP 4O Flashcards | StudBud
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FL Credit#2 - HIP 4O
FL Credit#2 - HIP 4O
15 terms
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StudBud Administration
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Financial Literacy Credit - Assessment AS Learning for HIP4O
Flashcards
15 cards
F
Practice quiz
P
Host live
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Questions
15
Answers
1
What is the Credit Rating (SCORE) of someone who has never had any credit before?
550
300
650
400
2
Having a good credit score means you can get
No loans
Higher interest rates
Lower interest rates
3
If you skip paying 2 or more car loan payments, they can
Do nothing
Bankrupt you
Take your car away
4
Paying your bills on time, and having a good credit report are signs of your
Capacity
Capital
Character
5
There are 2 companies that you can find out your credit score from, Equifax and
TransUnion
Edward Jones
Bank of Canada
Ontario Consumer Credit Assistance
6
Banks loan money because they can
Pay interest
Earn interest
be nice to people
7
A common advantage of using credit is
lower chance of overspending
lower cost for items purchased
ability to obtain needed items now
less impulse buying
8
Having a Poor credit score
High interest rates
All the above
Fewer opportunities to get approved for loans
9
Overspending is tempting when using
Credit Card
Debit Card
Loans
Mortgages
10
A Credit Rating is a judgement of your financial
Wealth
Debt
Health
11
Which one of the following is NOT one of the 3Cs of Credit
Collateral
Capacity
Character
Capital
12
A person's regular income is referred to as
capital
collateral
character
capacity
13
A very BAD Credit Rating is
750
350
550
700
14
Money that you borrow and promise to pay back
Credit
Meaningless
Debit
15
It's OK to use a credit card for EMERGENCIES
False
True
