Download presentation

Presentation is loading. Please wait.

Published byMakenna Goll Modified over 4 years ago

1
100 200 300 400 500 100 200 300 400 500 100 Scams APR & Finance Charges Three Cs Credit ReportLoans

2
The Answer is: Obtaining the use of money that you do not have, but promise to pay back.

3
The Question is: What is credit?

4
The Answer is: Two important consumer credit protection laws.

5
The Question is: What is the Truth in Lending Act and the Fair Credit Reporting Act?

6
The Answer is: Additional money that has to be paid back that is added to an initial loan.

7
The Question is: What is interest?

8
The Answer is: Goods (tangible or intangible) that investors hope will retain value or increase in value.

9
The Question is: What are assets?

10
The Answer is: If Travis borrows $2,000 at a 10% annual interest rate, how much interest he will pay back in 5 years.

11
The Question is: What is $1,221.02?

12
The Answer is: The amount of money obtained through a loan.

13
The Question is: What is principal?

14
The Answer is: A record of an individuals personal credit history.

15
The Question is: What is a credit report?

16
The Answer is: Your ability to qualify for a loan depends on these three things called the Three Cs.

17
The Question is: What are Character, Capacity, and Collateral?

18
The Answer is: If Patricia borrows $1,000 at 6% annual interest, how much interest she will pay back in 3 years.

19
The Question is: What is $191.01 ?

20
The Answer is: The three largest credit bureaus.

21
The Question is: What are Equifax, Experian, and TransUnion?

22
The Answer is: The first thing you should do when deciding to take out a loan.

23
The Question is: What is check your credit report?

24
The Answer is: What accumulates over time when you have a loan.

25
The Question is: What is interest?

26
The Answer is: Name two types of lending institutions in your community.

27
The Question is: What are banks, savings and loans, credit unions, and finance companies?

28
The Answer is: Two federal laws that regulate consumer credit.

29
The Question is: What is the Fair Credit Reporting Act and the Equal Credit Opportunity Act?

30
The Answer is: Two places where consumers can look for information about interest rates on auto loans.

31
The Question is: What is online and at local banks and credit unions?

32
The Answer is: When scam artists get your name, SS number, credit card number, or other personal information that can be used to open new credit card accounts.

33
The Question is: What is identity theft?

34
The Answer is: A high-cost loan that allows a person to get cash until their next payday (usually 2 weeks) with no credit background check.

35
The Question is: What is a payday loan?

36
The Answer is: Type of fraud where the first participants receive payments for recruiting additional members.

37
The Question is: What is a pyramid scheme?

38
The Answer is: This type of scam occurs when you are contacted by a company offering a loan if you first pay an upfront fee. Then, they dont give you a loan.

39
The Question is: What is an advance fee loan scam?

40
The Answer is: This type of scam occurs when a company offers to provide scholarships, but first you have to pay an upfront fee.

41
The Question is: What is a college financial aid scam?

42
The Answer is: What APR stands for.

43
The Question is: What is annual percentage rate?

44
The Answer is: What are the three methods of calculating credit card interest?

45
The Question is: What are average daily balance, adjusted balance, previous balance?

46
The Answer is: The APR charged if Sheila secures a $5,000 loan with 5% add-on rate for one year.

47
The Question is: What is 9.2%?

48
The Answer is: The APR charged if John secures a $6,000 loan with a 7% add-on rate for one year.

49
The Question is: What is 13.6%?

50
The Answer is: Finance charge if David borrows $2,000 at a 10% add-on rate for 3 years.

51
The Question is: What is $600?

Similar presentations

OK

Practical Math: Credit Cards Chapter 7 Notes. Vocabulary credit card: a card that allows you to buy items now and pay later monthly statement: form like.

Practical Math: Credit Cards Chapter 7 Notes. Vocabulary credit card: a card that allows you to buy items now and pay later monthly statement: form like.

© 2018 SlidePlayer.com Inc.

All rights reserved.

To make this website work, we log user data and share it with processors. To use this website, you must agree to our Privacy Policy, including cookie policy.

Ads by Google