# Presentation: 258109

## LET’S PLAY FINANCIAL JEOPARDY!!

## Financial Jeopardy

**Credit**
**Terms**

**Loans**

**Credit/**
**Debit**

-  ** ****Lending **
**  ****Tricks**

**Desire & Require**

-  _[$100](slide3.xml)_

-  _[$200](slide5.xml)_

-  _[$300](slide7.xml)_

-  _[$400](slide9.xml)_

-  _[$500](slide11.xml)_

-  _[$100](slide13.xml)_

-   _[$100](slide33.xml)_

-  _[$100](slide23.xml)_

-   _[$100](slide43.xml)_

-  _[$200](slide15.xml)_

-   _[$200](slide25.xml)_

-   _[$200](slide35.xml)_

-   _[$200](slide45.xml)_

-  _[$300](slide17.xml)_

-    _[$300](slide27.xml)_

-    _[$300](slide37.xml)_

-    _[$300](slide47.xml)_

-   _[$400](slide19.xml)_

-    _[$400](slide29.xml)_

-   _[$400](slide39.xml)_

-    _[$400](slide49.xml)_

-  _[$500](slide21.xml)_

-   _[$500](slide31.xml)_

-   _[$500](slide41.xml)_

-     _[$500](slide51.xml)_

- Final Jeopardy

**Financial Jeopardy**

- Double 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

- $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

- $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

- $200 Question fromCredit/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

- $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

- $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

- $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

- $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

- $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

- $300 Question from Lending Tricks

**$9x10****n (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

- $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

- $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

- $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

- $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

- $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 

- $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

**POPOURRI**

**ALPHABET SOUP**

**BUZZ **
**WORDS**

-  ** ****TIME’S UP!**

-   ** ****CREDIT CARD TERMS**

-  $200

-  $400

-  $600

-  $800

-  $1000

-  $200

-   $200

-  $200

-   $200

-  $400

-   $400

-   $400

-   _[$](slide45.xml)__4_00

-  $600

-    $600

-    $600

-    _[$](slide47.xml)__6_00

-   $800

-    $800

-   $800

-    $800

-  $1000

-   $1000

-   $1000

-     $1000

- Final Jeopardy

**Double 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

- $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

- $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

- $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

- $400 Question fromBuzz 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

- $600 Question fromBuzz 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

- $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

- $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!

- $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

- $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!

- $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!

- $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!

- $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

- $200 Question fromCredit 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 

- $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

- $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 

- $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**