Money Matters Exam Questions and Answers Fully Solved

Money Matters Exam Questions and Answers Fully Solved The free enterprise system is Supply and demand You swipe your debit card too many times. What additional charged should you expect? Overdraft fee, Higher rent on your next living space/apartment, Increased interest rates on loans Fine print contains Virtually all of the important info in an agreement What is phising? Emails designed to get your personal info. Native advertising Is designed to trick you Which of the following items is NOT typically associated with spending? Certificate of Deposit "paid as agreed" on your credit report is: Bad. It happens when you get sued Paying on time means you'll have a good credit score. False If you owe a lot of money vs how much you make at your job. You have high: Debt-to-income ratio Charging someone higher interest on a loan because they missed a payment in the past is: Risked based lending a credit bureau Tracks credit Advertisers use what in ads: A combination of facts and opinions Predatory lending interest rates are capped at: There is no cap for unregulated lenders Consumer groups offer opinions and should be researched true payments to these types of loans are generally recorded on your credit card report: Credit cards The following are ways to withdraw from a checking account EXCEPT: All of the above: ATM, Write a check, Electronic transfer Its possible for a debit card transaction to bounce True How much of your paycheck do you have immediate access to once you deposit it into your bank account? a portion of it What is the difference between a bank and a credit union? Banks are for-profit, credit unions are not-for-profit What is the best way to protect yourself from scammers? Store checks in a safe place financing something means: making payments spread out over time credit cards are bad and should never be used false which of these generally has the lowest interest rate over time? home loan the "grace period" on a bank loan means the time between purchase and payment due date what is the difference between a debit card and a credit card? Debit cards pull from the money you already have Credit card cash advances None of the above Which item is fixed expense? Rent Budgeting starts when you get you first? Money of any kind comparison shopping can include: All of the above: researching online, negotiating a better price, looking at alternatives All of these are "wants" except: Basic transportation impulse buying shows: Quick decision making what does paying yourself mean? saving enough for long-term goals Keys for recognizing good sources of info include: Does the source exist to help the consumer, does the source make any money from your purchase. poor credit can affect renting by requiring all of the above: higher deposit, higher rents, denial of rental agreement A tenant gives her or his landlord money to ensure the apartment will be clean at the end of the lease. this money is called: Security deposit whats the difference between renting and leasing? Renting is month-to-month, leasing for a defined period of time.