18.1 And 18.2 Quiz
20 Questions
| Total Attempts: 123
Questions and Answers
- 1.Which of the following situations describes the use of an ATM?
- A.
Abby purchased an item and paid for it when the bill came in the mail.
- B.
Abby wrote out an amount for an item and gave it to a cashier.
- C.
Abby entered a PIN to begin a transaction and received an amount of cash.
- D.
Abby balanced her checkbook.
- 2.Devin's bank charges $1.75 for nonbank ATM withdrawals and $0.30 for each debit card transaction. Last month, Devin paid $8.25 in ATM and debit card fees. He made 3 nonbank ATM withdrawals. How many times did he use his debit card?
- A.
2
- B.
5
- C.
7
- D.
10
- 3.Which of the following can have a positive effect on your credit score?
- A.
Owing more money than you earn.
- B.
Losing your job.
- C.
Paying your bills on time.
- D.
Having a lot of debt.
- 4.Which of the following can have a negative effect on your credit score?
- A.
Paying your bills on time.
- B.
Maxing your credit card out.
- C.
Having a job.
- D.
Getting a raise.
- 5.It is important to check your credit report regularly.
- A.
True
- B.
False
- 6.Taking a loan from your uncle will help build your credit.
- A.
True
- B.
False
- 7.520 is a excellent credit score.
- A.
True
- B.
False
- 8.The better credit you have, the more likely a bank will give you a loan.
- A.
True
- B.
False
- 9.Whitney and Jonathan each take out a $15,000 loan for a new car. Each has to repay the loan in 4 years. Whitney will pay an interest rate of 3% per year. Her monthly payments will be $332.01. Because Jonathan has a lower credit score, he will have to pay an interest rate of 3.5% per year. His monthly payments will be $335.34. How much will Whitney repay the lender in 4 years? DO NOT PUT A COMMA IN YOUR ANSWER!
- 10.How much will Jonathan repay the lender in 4 years? DO NOT PUT A COMMA IN YOUR ANSWER!
- 11.How much more will a $15,000 loan cost Jonathan than it will cost Whitney
- 12.
Charlie has a checking account at Transnational Bank. In December he wrote 4 checks and made 3 debit card transactions. Would Charlie’s monthly fee be cheaper if his account were at First City Bank, Transnational Bank, or Hometown Bank?- A.
First City Bank
- B.
Transnational Bank
- C.
Hometown Bank
- 13.How much in fees would Charlie pay at First City Bank?
- 14.How much in fees would Charlie pay at Transnational Bank?
- 15.How much in fees would Charlie pay at Hometown Bank?
- 16.How many years does information stay on your credit history?
- A.
10 years
- B.
5 years
- C.
Forever
- D.
7 years
- 17.What should you do if you notice something wrong on your credit report?
- A.
Cry.
- B.
Call the credit company.
- C.
Do nothing, the credit company will know to fix it.
- D.
Ignore it, it doesn't affect your credit.
- 18.What is not on your credit report?
- A.
Employment.
- B.
Addresses.
- C.
Social Security number.
- D.
Hair color.
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