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Team 2
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Teams
Name
Score
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15
×
Which of the following is a benefit of using credit responsibly?
Building a positive credit history
Increasing monthly expenses
Reducing savings potential
Paying more in interest charges
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15
×
What is a key advantage of having comprehensive auto insurance?
It guarantees lower fuel costs
It eliminates the need for vehicle maintenance
It prevents mechanical breakdowns
It protects against financial losses from accidents
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15
×
Which insurance feature represents the amount you must pay before coverage begins?
Benefit limit
Copayment
Premium
Deductible
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15
×
What action should you take if you discover unauthorized charges on your credit card?
Contact the credit card issuer immediately
Pay the charges and dispute later
Close all credit accounts
Wait for the next statement
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seesaw
Swap points!
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magnet
Take 15 points!
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rocket
Go to first place!
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banana
Go to last place!
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15
×
What effect does a lower credit score typically have on loan applications?
Faster approval process
Lower down payment requirements
Higher interest rates
Better loan terms
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15
×
Which budgeting method allocates income into specific categories like needs, wants, and savings?
50/30/20 rule
zero-based budgeting
line-item budgeting
envelope system
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15
×
What is a primary benefit of maintaining a good credit score?
Unlimited credit card rewards
Free credit monitoring services
Lower interest rates when borrowing money
Guaranteed approval for all loans
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trap
No points!
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gold
Win 50 points!
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fairy
Take points!
5
10
15
20
25
×
banana
Go to last place!
Oops!
15
×
How can consumers best protect against identity theft online?
Using public Wi-Fi networks
Clicking on email attachments
Using strong, unique passwords
Sharing passwords with trusted friends
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15
×
How should income be allocated in a basic budget?
100% to savings
50% to needs, 50% to savings
50% to wants, 50% to needs
Needs first, then savings and wants
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15
×
Which factor most directly affects the interest rate offered on a personal loan?
Education level
Credit score
Age of applicant
Employment history
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×
boom
Lose 50 points!
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magnet
Take 25 points!
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shark
Other team loses 5 points!
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×
banana
Go to last place!
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15
×
Which budgeting practice helps prevent overspending?
Tracking all expenses
Having multiple credit cards
Using only cash for purchases
Avoiding budget planning
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15
×
When interest rates increase, how does that affect consumer spending?
People borrow and spend more money
People increase their savings and reduce spending
Consumer spending stays the same
Has no effect on consumer behavior
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15
×
Which budgeting approach is most effective for irregular income?
Spending all income immediately
Not creating a budget
Planning based on lowest expected income
Ignoring income fluctuations
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