Who Wants to Be a Millionaire?

1
Who Wants to Be a Millionaire?
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Credit(Ch. 6)
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Phone A Friend

• OK Contestantyour time limit for this question
  has been extended from 30 seconds to one minute

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4
Use the Textbook

• Contestantyou have one minute to consult your
  textbook to find the answer to the question

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5
Fifty - Fifty
50/50

• Youve asked that two of the wrong answers be
  eliminated, leaving you with one wrong answer
  plus the correct one.

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6
Correct
Correct!
Proceed to Next Question
7
Incorrect
Sorry, Thats Incorrect
Return to the Question
8
Question 1...What does capacity mean?
50/50
Can you repay the loan?
Will you repay the loan?
A
B
What if you dont repay the loan?
What is your credit history?
C
D
9
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?
50/50
Debit
Open-end credit
A
B
Inexpensive loans
Closed-end credit
C
D
10
Question 3...Which of the following is an
advantage of long-term financing?
50/50
Helps you achieve short-term goals
Lower interest rates
A
B
Smaller monthly payments
Higher interest rates
C
D
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Question 4...Which of the following is a form of
security to guarantee that the creditor will be
repaid?
50/50
Principal
Simple interest
A
B
Collateral
Minimum deposit
C
D
12
Question 5...Which of the following is not one
of the five Cs of credit?
50/50
Character
Credit rating
A
B
Conditions
Collateral
C
D
13
Question 6...If your credit card is used
illegally, how much are you responsible for?
50/50
100
150
A
B
250
50
C
D
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Question 7...How many U.S. households carry one
or more credit cards?
50/50
5 out of 10
7 out of 10
A
B
8 out of 10
9 out of 10
C
D
15
Question 8...If you believe that you have been
discriminated against, you can do all of the
following EXCEPT
50/50
Complain to the creditor
Change correct information in your credit report
A
B
Sue the creditor
File a complaint with the government
C
D
16
Question 9...What is the income you take home
called?
50/50
APR
Principal
A
B
Gross pay
Net pay
C
D
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Question 10...If you are beginning to get into
financial difficulty, your last resort should be
to
50/50
Declare bankruptcy
Contact a credit counselor
A
B
Cut up your credit cards
Ask for help from your family
C
D
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Question 11...What is the smallest amount you
can pay and remain a borrower in good standing?
50/50
Collateral
Minimum monthly payment
A
B
Interest
Credit
C
D
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Question 12...On a smart card, which of the
following pieces of data can it not hold?
50/50
Credit card balances
Drivers license
A
B
Health care information
Grocery store coupons
C
D
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Question 13...Which of the following is not an
advantage of owning a credit card?
50/50
Get interest
Get credit history
A
B
Get bonuses
Convenient
C
D
21
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?
50/50
90 days
60 days
A
B
30 days
10 days
C
D
22
Question 15...Which type of bankruptcy is where
most of the debtors assets are sold to pay off
creditors?
50/50
Chapter 7
Chapter 11
A
B
Chapter 13
Chapter 15
C
D