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Study Guide Answers
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1.
What is the most common form of credit?
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Credit cards |
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2.
Lying on an application can cause what?
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Denial of a card or damage to credit record |
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3.
If your card is lost or stolen, you cannot be held accountable for more than _______ of the unauthorized purchases.
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$50 |
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4.
The annual percentage rate is the sum of money you must pay the credit card issuer for their services each year. True or false
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False, annual fee |
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5.
______________ is a certain amount of money that you agree to pay the card issuer for allowing you to borrow money.
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Interest |
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6.
There are two different types of interest rates charged to credit card users. What are they?
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Fixed and variable |
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7.
What is a credit card sometimes referred to?
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Plastic money |
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8.
The _________ is the about of money that you still owe the credit card issuer.
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Credit card balance |
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9.
If your bill is not paid in full and on time each month, you will have to pay what?
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Interest |
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10.
___________ can be found on the back of credit card applications or agreements.
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Schumer's Box |
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11.
A(n) _______________ refers to a period of time, when, if you pay your credit card balance in full, you do not have to pay any interest.
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Grace period |
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© Educational Video Network, Inc. 2005 - www.evndirect.com
Your leading source for curriculum-based educational videos and DVDs.
|