Cash, Loans, Debts, and Promises

Quiz: Quiz

The best way to spend only what you have is to

  • Keep your ATM receipts
  • Use a credit card
  • Use a debit card
  • Pay with cash
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If you lose cash, you should

  • Report it to the bank
  • Report it to the police
  • Consider it a loss and make do
  • As a friend for a loan
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Which question will NOT help you choose a checking account?

  • Is there a minimum balance required?
  • Do I have to pay my balance every month?
  • Can I get overdraft protection?
  • Will you take out monthly fees even if I have a very small balance in the account?
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Which statement is true?

  • If you repot a lost credit card to the issuer right away, you will not have to pay charges you don’t make.
  • If you report a lost credit ad to the police, you will not have to pay charges you don’t make.
  • If you report a lost credit card within 30 days, you will not have to pay for charges you don’t make.
  • If you lose your credit card, you must only pay the charges on the bill that you know are yours.
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Which statement is false?

  • Interest rates on loans are cheaper for people with good credit.
  • A loan must be a written contract to be real and enforceable.
  • People with bad credit might not be able to get a loan.
  • Not repaying a loan can make it harder to get a job.
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When making a contract, you …

  • Can break it later if you don’t understand something in it.
  • Should not sign it unless you understand the whole thing.
  • Can change it during the contract period if something in it turns out to not work for you
  • Can’t be sued in court if the contract wasn’t in writing.
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