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Financial Literacy
Goal for retirement living?
What score is an excellent credit score?
Financial Literacy
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Answers
1
What score is an excellent credit score?
300
500
750
600
2
Goal for retirement living?
To start a business
To retire before 65
To achieve financial independence
To drive your dream car
3
What is Financial Literacy?
How to open a retirement account
Opening up a savings account
The ability to understand how to make financial choices
Starting an emergency fund
4
Does PIN stand for Personal Identification Number?
False
True
5
What is a credit score?
A number between 300–850 that depicts a consumer's creditworthiness.
a GPA
A number
A score that evaluates the probability that an individual will repay loans.
6
What % do credit experts say to stay under?
30%
10%
20%
50%
7
The numbers listed at the bottom of a check are the _____ number and the _____ number?
Phone, Account
Social Security, Account
Routing, Account
Phone, Social Security
8
What are the three credit bureau reporting agencies?
TransUnion
IRS
Experian
Equifax
9
What is a checking account?
An account that accumulates interest when opened
a credit card
Banking account that allows for one to deposit and withdraw money
a home loan
10
What is a mortgage?
A student loan
A car loan
A type of loan used to buy property
A bank loan
11
How old to open a checking account with a legal guardian?
16
14
18
21
12
Does FICO stand for Fair Isaac Corporation?
False
True
13
What is a savings account?
Account that helps you feel financially secured
An account to spend in everyday bills
Account that you will need a 4 digit pin to spend at stores
Money you save in a jar or piggy bank
14
Why is budgeting important?
How to protect money
Not fall into huge amount of debt
How to spend money wisely
Understand the value of money
15
Which account sets up direct deposit?
A car loan
checking account
FICO Score
savings account
16
What are the two biggest influences on your credit score?
Amount of Debt
Payment History
Checking Account
Applying for new Credit Card
17
Do you want to live the best life?
False
True
18
Age to open a credit card?
18
18 with cosigner
21
16 with cosigner
