Ms. Wagemaker Coginchaug Reginoal High School Personal Finance Jeopardy CreditInsurance The 5 C’s...
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Transcript of Ms. Wagemaker Coginchaug Reginoal High School Personal Finance Jeopardy CreditInsurance The 5 C’s...
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Ms. WagemakerCoginchaug Reginoal High School
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Personal Finance Jeopardy
Credit InsuranceThe 5 C’s of
Credit Savings
100 100 100 100200 200 200 200300 300 300 300400 400 400 400500 500 500 500
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Credits
Exit
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CreditWhich of the following is not a secured
loan?
personal cash loan to get through a temporary lay-off from your job
5-year auto loan home equity loan to pay for a new roof .30-year, fixed-rate mortgage
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CreditWhich of the following is not a secured loan?
personal cash loan to get through a temporary lay-off from your job
5-year auto loan home equity loan to pay for a new roof .30-year, fixed-rate mortgage
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Credit $200Which of the following is not a reason for your
credit card interest rate to go up?You have never missed a payment on any
credit account. Your debt level is too high. You have exceeded your credit limit on
another card. d.Your credit score went down.
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Credit $200Which of the following is not a reason for your
credit card interest rate to go up?You have never missed a payment on
any credit account. Your debt level is too high. You have exceeded your credit limit on
another cardYour credit score went down.
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Credit $300Currently what is the range of possible credit
scores?
A.0 - 800B.300 - 850C.100-750 D.500 - 850
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Credit $300Currently what is the range of possible credit
scores?
A.0 - 800
B.300 - 850C.100-750 D.500 - 850
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Credit $400What do you call the type of loan that has a
fixed number of equal payments to be paid on a regular basis? Examples would be car loans and home mortgages.
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Credit $400What do you call the type of loan that has a
fixed number of equal payments to be paid on a regular basis? Examples would be car loans and home mortgages.
INSTALLMENT
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Credit $500What do you call the type of loan/credit that
does not have any collateral? Examples would be credit cards and personal loans.
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Credit $500What do you call the type of loan/credit
that does not have any collateral? Examples would be credit cards and
personal loans.
Unsecured
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Insurance $100The price you pay for insurance coverage
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Insurance $100The price you pay for insurance coverage
PREMIUM
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Insurance $200The amount the insured person pays out of
pocket for each loss
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Insurance $200The amount the insured person pays out of
pocket for each loss
DEDUCTIBLE
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Insurance $300 This type of insurance will provide you with
some income in case you are unable to work due to an injury or illness.
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Insurance $300This type of insurance will provide you with
some income in case you are unable to work due to an injury or illness.
DISABILITY INCOME
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Insurance $400This type of insurance will help pay for your
funeral expenses and provide money for your dependents in the event of your death
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Insurance $400This type of insurance will help pay for your
funeral expenses and provide money for your dependents in the event of your death
LIFE INSURANCE
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Insurance $500This type of insurance covers you against
losses that might occur to the building you own
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Insurance $500This type of insurance covers you against
losses that might occur to the building you own
HOMEOWNERS
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5 C’s of Credit $100What you currently own; the value of all your
assetsfund
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5 C’s of Credit $100What you currently own; the value of all your
assets
CAPITAL
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5 C’s of Credit $200The current state of the economy – this will
affect your interest rate and how willing creditors are to give you credit
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5 C’s of Credit $200The current state of the economy – this will
affect your interest rate and how willing creditors are to give you credit
CONDITIONS
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5 C’s of Credit $300What you are given in exchange for the
loan/credit. What the creditor can “take back” if you default on your loan.
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5 C’s of Credit $300What you are given in exchange for the
loan/credit. What the creditor can “take back” if you default on your loan.
COLLATERAL
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5 C’s of Credit $400Your financial history – how well you have (or
haven’t) paid off any previous credit. Your credit score is a strong indicator of this….
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5 C’s of Credit $400Your financial history – how well you have (or
haven’t) paid off any previous credit. Your credit score is a strong indicator of this….
CHARACTER
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5 C’s of Credit $500Your current ability to repay a loan/credit.
Your current income is the big determinant of this….
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5 C’s of Credit $500Your current ability to repay a loan/credit.
Your current income is the big determinant of this….
CAPACITY
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Savings $100A basic savings account has high __________
because you can withdraw funds from it without penalty and easily convert the funds into cash.
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Savings $100A basic savings account has high __________
because you can withdraw funds from it without penalty and easily convert the funds into cash.
LIQUIDITY
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Savings $200Which method of calculating interest will earn
you the MOST money over time?Simple interestCompounded dailyCompounded monthlyCompounded annually
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Savings $200Which method of calculating interest will earn
you the MOST money over time?Simple interest
Compounded dailyCompounded monthlyCompounded annually
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Savings $300Using the Rule of 72, how many years will it
take to double your investment if your earnings rate is 5% ?
____________
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Savings $300Using the Rule of 72, how many years will it
take to double your investment if your earnings rate is 5% ?
14.4
# years to double your investment = 72 / interest rate
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Savings $400Saving for a skateboard is what kind of a goal:Short TermMedium TermLong Term
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Savings $400Saving for a skateboard is what kind of a goal:
Short TermMedium TermLong Term
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Savings $500What does CD stand for when it comes to a
savings product?
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Savings $500What does CD stand for when it comes to a
savings product?
Certificate of Deposit