1. What is a “grace period” on a credit card?
Correct!
Wrong!
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2. Credit card interest is based on your ADB. What does ADB stand for?
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Wrong!
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3. Which statement about credit scoring is true?
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Wrong!
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4. What is the single most important way to help your credit score (35 percent weight).
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5. Which of the following statements about your credit card balances is true?
Correct!
Wrong!
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6. You paid for your tickets to see Hailee Steinfeld on your new credit card and don’t have enough money in the bank to pay your bill in full by the due date. What should you do?
Correct!
Wrong!
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7. Which statement about minimum monthly payments is NOT true?
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Wrong!
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8. What is a secured credit card?
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9. What is true about credit cards that offer perks like cash back or points?
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Wrong!
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10. If Selena Gomez is on tour and forgets to pay her credit card on time, what fees will she have to pay the following month?
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11. Why do some stores have a minimum purchase amount in order to use your debit or credit card?
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12, When you use your credit card, what other organizations — besides the merchant — also get paid for the transaction?
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Wrong!
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Senior Advisor, Financial literacy curriculum, CentSai Teaching applied financial education, in easy, fun format is what I love. I’ve been affiliated with Oberlin College since 2011 directing financial literacy programs. My first course, “Fundamentals of Finance,” offered for four years, was open to both College and Conservatory students. The course has since evolved to “Personal Finance for Millennials,” which I teach as a visiting instructor in the economics department. I often speak at financial literacy events around the country and I am currently working on a book on the subject. I spent the first two decades of my career in the corporate world, working as a financial planner, first with Xerox Corp. and then with BellSouth. I also spent a few years abroad, as financial planning director of Optus Comms and then as CFO of BellSouth New Zealand. I also sit on the board of the Northern Ohio Youth Orchestras as Treasurer. I received a BA in Economics summa cum laude from the University of Pennsylvania and an MBA in Finance, Economics and Accounting from the Simon School at the University of Rochester.