18.1 And 18.2 Quiz

20 Questions | Total Attempts: 123

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18.1 And 18.2 Quiz - Quiz


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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