Credit For Life Fair Quiz

Question 1

Which is NOT a way credit card companies make money?

Accepted Answer

Loaning money from a customer deposit base

Question 2

How do scammers access info?

Accepted Answer

All of the above

Question 3

True or false: The national animal of Scotland is a unicorn.

Accepted Answer

True

Question 4

What is the best path for financial security?

Accepted Answer

Tracking finances and spending below my means

Question 5

Most important credit score factor?

Accepted Answer

Paying bills on time

Question 6

Which is NOT a credit score factor?

Accepted Answer

Income on tax return

Question 7

Account used for emergencies if need be but also collects interest if it is not used

Accepted Answer

High-Yield Saving

Question 8

Best way to track spending?

Accepted Answer

It doesn't matter whatever works best for me

Question 9

Account used to set money aside and lock in an interest rate which includes a penalty

Accepted Answer

Certificate of Deposit (CD)

Question 10

To improve credit score, keep usage...

Accepted Answer

0-25% of limit

Question 11

If I get a check to return money, I should...

Accepted Answer

Assume it's fraud and contact the bank

Question 12

This product targets market segment, offering broad exposure, low expenses, and minimal portfolio turnover

Accepted Answer

Index Fund

Question 13

What is the required down-payment for a house?

Accepted Answer

It depends on the loan

Question 14

Owning a stock in a company means...?

Accepted Answer

I own a small piece of that company

Question 15

Account intended to make day-to-day purchases (including bills) but doesn't garner much interest

Accepted Answer

Checking

Question 16

Who was the first US Treasury Secretary?

Accepted Answer

Alexander Hamilton

Question 17

What does FICA stand for?

Accepted Answer

Federal tax withholding for Social Security and Medicare

Questions 17