Template by Bill Arcuri, WCSD Who Wants to Be a Millionaire?
Credit (Ch. 6) _________________________ _____________________ ___________________ __________________ _________________ ______________ Click the appropriate dollar amount at right to proceed to the question
Template by Bill Arcuri, WCSD Phone A Friend “OK Contestant…your time limit for this question has been extended from 30 seconds to one minute…” Return to the Question
Template by Bill Arcuri, WCSD Use the Textbook “Contestant…you have one minute to consult your textbook to find the answer to the question…” Return to the Question
Template by Bill Arcuri, WCSD Fifty - Fifty You’ve asked that two of the wrong answers be eliminated, leaving you with one wrong answer plus the correct one. 50/50 Return to the Question
Template by Bill Arcuri, WCSD Correct Correct! Proceed to Next Question
Template by Bill Arcuri, WCSD Incorrect Sorry, That’s Incorrect Return to the Question
Template by Bill Arcuri, WCSD Can you repay the loan? Question #1...What does capacity mean? What if you don’t repay the loan? What is your credit history? Will you repay the loan? 50/50 A CD B
Template by Bill Arcuri, WCSD Debit Question #2...For which of these do you receive a one-time loan that you will pay back over a specified period of time and in payments of equal amounts? Inexpensive loans Closed-end credit Open-end credit A CD B 50/50
Template by Bill Arcuri, WCSD Lower interest rates Question #3...Which of the following is an advantage of long- term financing? Smaller monthly payments Higher interest rates Helps you achieve short-term goals A CD B 50/50
Template by Bill Arcuri, WCSD Simple interest Question #4...Which of the following is a form of security to guarantee that the creditor will be repaid? Collateral Minimum deposit Principal A CD B 50/50
Template by Bill Arcuri, WCSD Character Question #5...Which of the following is not one of the five Cs of credit? ConditionsCollateral Credit rating A CD B 50/50
Template by Bill Arcuri, WCSD $100 Question #6...If your credit card is used illegally, how much are you responsible for? $250$50 $150 A CD B 50/50
Template by Bill Arcuri, WCSD 5 out of 10 Question #7...How many U.S. households carry one or more credit cards? 8 out of 109 out of 10 7 out of 10 A CD B 50/50
Template by Bill Arcuri, WCSD Complain to the creditor Question #8...If you believe that you have been discriminated against, you can do all of the following EXCEPT… Sue the creditor File a complaint with the government Change correct information in your credit report A CD B 50/50
Template by Bill Arcuri, WCSD APR Question #9...What is the income you take home called? Gross payNet pay Principal A CD B 50/50
Template by Bill Arcuri, WCSD Declare bankruptcy Question #10...If you are beginning to get into financial difficulty, your last resort should be to… Cut up your credit cards Ask for help from your family Contact a credit counselor A CD B 50/50
Template by Bill Arcuri, WCSD Collateral Question #11...What is the smallest amount you can pay and remain a borrower in good standing? InterestCredit Minimum monthly payment A CD B 50/50
Template by Bill Arcuri, WCSD Credit card balances Question #12...On a smart card, which of the following pieces of data can it not hold? Health care information Grocery store coupons Driver’s license A CD B 50/50
Template by Bill Arcuri, WCSD Get interest Question #13...Which of the following is not an advantage of owning a credit card? Get bonusesConvenient Get credit history A CD B 50/50
Template by Bill Arcuri, WCSD 90 days Question #14...If your credit application was denied, how long after the denial do you have to see the files that explain why you were denied? 30 days10 days 60 days A CD B 50/50
Template by Bill Arcuri, WCSD Chapter 7 Question #15...Which type of bankruptcy is where most of the debtor’s assets are sold to pay off creditors? Chapter 13Chapter 15 Chapter 11 A CD B 50/50