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Understanding Credit Cards and Fraud Flashcards | StudBud
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Understanding Credit Cards and Fraud
Understanding Credit Cards and Fraud
10 terms
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StudBud Administration
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9 plays
#finance
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Interest is charged___the balance is not paid in full.
each day
each year
each month
each week
2
What are common types of fraud?
investment
identity
tax
credit
3
What are the advantages of using credit cards?
Useful for emergencies
Interest can be costly when a balance is revolved
Protection against fraud
Tempting to overspend
4
What does the US Securities and Exchange Commission do?
protect investors and maintain efficient financial markets
regulates interstate and international communication
protects the United States and its citizens
enforce tax laws
5
Prevents business practices that are noncompetitive, deceptive or unfair to consumers
Federal Communications Commission
Consumer Financial Protection Buraeu
Federal Trade Commission
Federal Drug Administration
6
Protect your personal information by...
Shred personal documents before discarding them
Sharing your Social Security Card
Stealing a purse, wallet, mail, etc.
Phishing for personal information via email
7
Requirement to disclose the terms and fees of credit cards in an easy to read box format?
Mother Box
Juke Box
Chatter Box
Schumer Box
8
How does fraud negatively impact financial well-being?
Wealth
Economy
Security
Anxiety
9
A plastic card that you can use to access a line that has been established in advance?
gift card
credit card
ATM card
debit card
10
Cannot change during the period of time outlined in a credit card agreement?
Penalty-rate APR
Fixed-rate APR
Balance-rate APR
Variable-rate APR
