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					     LET’S PLAY
FINANCIAL JEOPARDY!!




 http://www.magicnet.net/~itms/jeopardy/index.htm
  Financial Jeopardy
Credit           Credit/   Lending      Desire &
Terms    Loans   Debit     Tricks       Require

$100     $100    $100       $100          $100

$200     $200    $200       $200          $200

         $300    $300       $300          $300
$300

         $400    $400       $400          $400
$400

$500     $500    $500       $500          $500

                                   Double Jeopardy
                                   Final Jeopardy
 $100 Question from Credit
         Terms
Acronym on a credit card statement for the
 interest rate commonly referred to as
        Annual Percentage Rate
$100 Answer from Credit Terms

         WHAT IS APR?
$200 Question from Credit
        Terms

 Lowest amount you can pay on your
   credit card each month without
         incurring a penalty
$200 Answer from Credit Terms


 What is the minimum payment? (Usually
     4% of the outstanding balance)
$300 Question from Credit Terms



             Default
$300 Answer from Credit Terms


What is failing to make payments on time
      and in the correct amount?
$400 Question from Credit Terms
       DAILY DOUBLE

 The fee credit card companies charge if a
  minimum payment is not timely made
       by the end of a billing cycle
$400 Answer Credit Terms


     What is a late fee?
$500 Question from Credit Terms


  While parents don’t have to sign off on it, this
 financial grade card, includes a history of one’s
   personal transactions and financial standing
$500 Answer Credit Terms


    What is a Credit Report?
    $100 Question Loans


   Loan by the federal government to
encourage continuation of one’s education
$100 Answer from Loans


   What is a Student Loan?
$200 Question from Loans


     Loan to buy a house
$200 Answer from Loans


   What is a mortgage loan?
  $300 Question Loans


  This person is required to sign
 with you to get a loan when your
credit is not good enough to get the
            loan yourself
$300 Answer Loans


   Who is a co-signer?
$400 Question Loans


Term for the large payment
      due at the end
     of this type loan
$400 Answer from Loans


   What is a balloon payment?
  $500 Question from Loans
   This type of loan is offered at higher
 interest rates to individuals who do not
  qualify for prime rate loans, and often
 results in tens of thousands of dollars in
additional interest payments over the life
                 of the loan
$500 Answer from Loans


   What is a sub-prime loan?
        $100 Question from
         Credit/Debit Cards
          DAILY DOUBLE

Type of card that will take money directly
      from your checking account
$100 Answer from
Credit/Debit Cards


  What is a debit card?
     $200 Question from
      Credit/Debit Cards


Card which will charge interest on any
        outstanding balance
$200 Answer from
Credit/Debit Card



 What is a credit card?
     $300 Question from
      Credit/Debit Card


The average fee for making a withdrawal
 from an ATM not owned by your bank
    $300 Answer from
    Credit/Debit Card


What is $1 - $5 (per transaction)?
     $400 Question from
      Credit/Debit Card


Customary fee for exceeding the credit
      limit on your credit card
        $400 Answer from
        Credit/Debit Card

           What is $39.00?

You must also pay your regular minimum
payment, interest and an additional fee for
      going over the credit limit.
 $500 Question from
  Credit/Debit Card

Three of eight good reasons for
     owning a credit card
              $500 Answer from
              Credit/Debit Card
    What are:
    Establish and build good credit*
    Emergency
    To use to meet “needs”
    To protect your big purchases*
    As a low interest loan*
    To earn rewards/cash back*
    To secure/hold a reservation
    Security – instead of carrying
    a large amount of cash?
*Assumes that you have the financial ability to pay off the debt quickly
      $100 Question from
        Lending Tricks

Maximum interest rate credit card issuers
are allowed to charge for use of their card
       $100 Answer from
        Lending Tricks

   What is infinity or what is none?

        There is no maximum.
 The average rate for a college student
is 17.9%, and some credit card interest
          rates exceed 30%.
      $200 Question from
        Lending Tricks


          Three trinkets offered
by credit card issuers to entice students to
         sign up for a credit card
         $200 Answer from
          Lending Tricks
   What are: Food and drink, T-Shirts,
movie passes, beer, frisbees, sweatshirts, and
       other school paraphernalia?

All are offered to solicit students to complete
           credit card applications.
$300 Question from
  Lending Tricks

 $9x10ⁿ (where n=10), or
    $90,000,000,000
  ($90 Billion Dollars)
                $300 Answer from
                 Lending Tricks
What is the amount of profit that credit card issuers
  made on interest and penalties alone in 2006?

  The combined 2006 GDPs of Jordan, Cyprus, Costa Rica and the
Bahamas was only $85.5 billon; and the combined 2005 profits of the
top four oil companies, ExxonMobil, Royal Dutch, BP, and Chevron
                        totalled $92.3 billion.
        $400 Question from
          Lending Tricks


The amount credit card companies now charge
    for making a payment on the internet
      (even though you are not past due)
          $400 Answer from
           Lending Tricks

               What is $15.00?

If you make your payment within 48 hours of
the due date they have already charged a late
fee and they reserve the right to take up to 48
hours to process your payment on the internet.
     $500 Question from
       Lending Tricks

 The is the place where the credit card
account will show up, even if the card is
             never activated
         $500 Answer from
          Lending Tricks
       What is your Credit Report?

Your credit report can show open accounts
even if the account never had a balance and
  wasn’t activated. Credit card companies
  solicit students with free gifts to sign up
   to sign up for credit cards even if they
        don’t need or won’t use them.
 $100 Question from
  Desire & Require


Movie tickets, designer clothes,
   pizza after a ball game
$100 Answer from
Desire & Require


  What is a want?
$200 Question from
 Desire & Require


 Food, shelter, utilities,
   medical treatment
$200 Answer from
Desire & Require


  What are needs?
  $300 Question from
     Desire & Require

  What to do when you really want
  to go to the game but the tickets
  are too expensive for your budget
and using your credit card will cause
 you to exceed the credit card limit
    $300 Answer from
    Desire & Require

       What is skip the game?

   Resist the temptation to charge the
  tickets. You will have to pay for the
 tickets, interest and over the limit on
   your card fees . You could end up
spending twice as much for the tickets.
           $400 Question from
            Desire & Require

  This is what to do when a week of school has left
you wanting to reward yourself for a job well-done.
 Dining out with friends, your part of the bill totals
 $9.00 and you have the ability to pay cash, charge
  or use your debit card. Your friends offer to give
you cash for their bills if you use your credit card.
     $400 Answer from
        Desire & Require
 What is don’t use your credit card? or,
What is pay with cash or your debit card?

       Pay with cash if possible, if not use
    your debit card. Never charge anything
  less than $10.00 and don’t charge items you
   eat or drink. Don’t put others expenses on
   your credit card. This only increases the
  amount of interest you will pay if you can’t
      pay off the entire balance when due.
            $500 Question
           Desire & Require

  This social “flu”, arises from the desire to be
 more wealthy, more successful or to “Keep up
 with the Jones” and is symptomatic of a culture
that prizes financial success as one of the highest
              pursuits to be achieved
$500 Answer from
 Desire & Require

 What is Affluenza?
  Double Jeopardy      BUZZ
POPOURRI                      TIME’S UP!     CREDIT
           ALPHABET   WORDS
                                           CARD TERMS
             SOUP


$200       $200       $200     $200          $200

$400       $400       $400     $400          $400

           $600       $600     $600          $600
$600

           $800       $800     $800          $800
$800

$1000      $1000      $1000    $1000         $1000



                                      Final Jeopardy
$200 Question from Potpourri

The acronym for Automated Teller Machine
$200 Answer from Potpourri

     What is ATM?
$400 Question from Potpourri


    Experian, TRW and Equifax
$400 Answer from Potpourri

What are the three major credit reporting
               agencies?
 $600 Question from Potpourri


   The average amount of debt carried by
 Americans who do not pay off their credit
cards by the end of the monthly billing cycle
$600 Answer from Potpourri

      What is $10,000?
$800 Question from Potpourri

    Type of credit card that rebates
    a percentage of annual charges
         at the end of the year
$800 Answer from Potpourri

     What is a cash back card?
$1000 Question from Potpourri

     The average American carries
         this many credit cards
       $1000 Answer Potpourri

                  What is eight?

         Eight is also the average number
     of unsolicited credit card applications,
freshmen will receive in the first week at college
   $200 Question from
     Alphabet Soup

These initials refer to the interest rate
 that credit card companies charge
$200 Answer from
 Alphabet Soup

What is APR?

Annual Percentage Rate
$400 Question from
  Alphabet Soup

       PIN
       $400 Answer from
        Alphabet Soup


What is Personal Identification Number?
$600 Question from
  Alphabet Soup

       NSF
       $600 Answer from
        Alphabet Soup

          Non-sufficient funds

Banks refer to these as “bounced” checks.
$800 Question from
  Alphabet Soup


      ARM
   $800 Answer from
    Alphabet Soup

What is Adjustable Rate Mortgage?
       $1000 Question from
          Alphabet Soup


The most widely used credit scoring system,
 “FICO” stands for this company, which
developed the algorithm used in computing
              the credit score
    $1000 Answer from
      Alphabet Soup

What is the Fair Isaacs Corporation?
        $200 Question from
           Buzz Words
           DAILY DOUBLE
The name credit card companies give to people
 who pay off their cards in full without ever
             carrying balances
$200 Answer from
  Buzz Words


What is a deadbeat?
          $400 Question from
             Buzz Words


Industry term for potential credit card customer
 groups that have not previously used banking
     services or had access to credit cards
      $400 Answer from
        Buzz Words


What is the “unbanked population”?
         $600 Question from
            Buzz Words

The industry’s “smoking gun” term for credit card
  users who consistently carry some portion of
  their monthly bill into the next monthly cycle
$600 Answer from
  Buzz Words

 Who are revolvers?
      $800 Question from
         Buzz Words

Credit card users who use credit cards with
a lower interest rate to pay off credit cards
         with a higher interest rate
     $800 Answer from
       Buzz Words


What are “gamers” or “rate surfers”?
      $1000 Question from
          Buzz Words

Slang for the detailed terms and conditions
    under which credit card companies
     let customers use the credit cards
$1000 Answer from
   Buzz Words


  What is “fine print”?
     $200 Question from
         Time’s Up!

   Number of days’ notice credit card
companies have to give before increasing
  the interest rate unilaterally on your
                credit card
$200 Answer from
   Time’s Up!

    What is 15?
 $400 Question from
       Time’s Up!
   DAILY DOUBLE
     Number of days in a
typical credit card billing cycle
   $400 Answer from
      Time’s Up!


    What are 20 to 30 days?

The shorter the billing cycle the shorter
the ‘interest free loan’ and the quicker
payment need to be made on purchases.
       $600 Question from
           Time’s Up!


   Under most credit card agreements,
  the number of days’ notice credit card
companies must give before they can charge
           the default terms
$600 Answer from
   Time’s Up!


    What is 15?
         $800 Question from
             Time’s Up!


Number of days past due a credit card payment
   can be before late payment fees attach and
interest starts accruing on the overdue balance
$800 Answer from
   Time’s Up!


   What is zero?
      $1000 Question from
          Time’s Up!


Number of years that credit reports cover
       $1000 Answer from
           Time’s Up!


               What is seven?


An exception is a bankruptcy filing which stays
    on a person’s credit report for 10 years
       $200 Question from
        Credit Card Terms

  This is the fee credit card companies
  charge if a minimum payment is not
made by the end of a monthly billing cycle
$200 Answer from
Credit Card Terms


  What is a late fee?
       $400 Question from
        Credit Card Terms

  This is the fee credit card companies
charge if you carry a larger balance than
       agreed on your credit card
  $400 Answer from
  Credit Card Terms

What is the over the limit fee?
        $600 Question from
         Credit Card Terms

This is the name for the charge incurred on
     the outstanding principal balance
$600 Answer from
Credit Card Terms


  What is interest?
     $800 Question from
      Credit Card Terms

This is the yearly charge (a flat fee) from
the credit card company for the right to
            have a credit card
$800 Answer from
Credit Card Terms

What is the annual fee?
         $1000 Question
        Credit Card Terms

 The term for the amount that has to be
paid by the end of a monthly billing cycle
            to avoid a late fee
   $1000 Answer from
   Credit Card Terms

What is the minimum payment?
       Final Jeopardy

           Credit Scores

 Based upon mathematical models,
these are two of the top five factors
 used in calculating a FICO score
        (credit rating score)
Final Jeopardy Answer
         What are:
      Payment history
 Current level of indebtedness
   Length of credit history
          New credit
     Types of credit used

				
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