2. William Fremd High School Consumer Education Credit Review

3. A:B: NoneFew _______ people can pay for a home without borrowing. C:D: SomeSeveral

4. Few

5. A:B: Debt Consolidation Loan Unsecured Loan Which loan has a lower interest rate? C:D: Secured LoanCredit Card

6. Secured Loan

7. A:B: Is not liable for any charges Is liable for no more than $100 after notifying the issuer If a credit card holder loses a credit card and an unauthorized person uses it to buy goods or services, the owner of the credit card C:D: Is liable for no more than $50 after notifying the issuer Is liable for all purchases made

8. Is liable for no more than $50 after notifying the issuer

9. A:B: Building credit reputation The use of goods while paying for them One disadvantage of credit is: C:D: The forced saving feature of credit Impulse buying by credit users

11. A:B: PawnshopBanker If you want to get cash for personal property such as jewelry or a TV, then you need to see a C:D: Loan OfficerDoctor

12. Pawnshop

13. A:B: CreditCredit debt A measure of your credit worthiness is your C:D: Credit ratingCredit card

14. Credit Rating

15. A:B: Collateral (Capital)Character Which of these are not one of the 3 C’s of Credit? C:D: Credit HistoryCapacity

16. Credit History

17. A:B: Do not miss a payments Start small Which one of the following is NOT a way to Maintain good credit: C:D: The balance is due on the next payment Don’t correct payment mistakes

18. The balance is due on the next payment

19. A:B: 0 days5-10 days For most credit cards, the grace period is between: C:D: 15-25 days30-60 days

20. 15-25 days

21. A:B: SmallerBigger Stretching out the repayment time of an installment loan makes the monthly payments C:D: The sameMore fun to pay off

22. Smaller

23. A:B: Regular Charge Accounts Circular/Revolving Card Accounts Visa and MasterCard are examples of a C:D: Installment LoansRetail Store Accounts

24. Circular Charge Accounts

25. A:B: Consumer Credit Reform Act Equal Credit Opportunity Act This Act helps consumers correct credit card billing mistakes. C:D: Fair Credit Reporting Act Fair Credit Billing Act

27. A:B: 1%1.5% If the annual percentage rate for a Visa card is 18%, what would be the periodic rate? C:D: 3%18%

28. 1.5%

29. A:B: Payments continue on schedule A finance charge is applied An acceleration clause in an installment contract States that if one or more payments are missed this occurs: C:D: The balance is due on the next payment Additional interest is charged to the original payment

30. The balance is due on the next payment

31. A:B: 1 st Place2 nd Place What place did the Fremd Girls Soccer team get in the State Tourney last spring C:D: 3 rd Place4 th Place

32. 2nd Place

33. Great Job!!!! Great Job!!!! Thank you for playing! Thank you for playing!