Credit Review

How can a young adult build a credit rating?

• Charge card

• Savings account 

• Cell phone account 

• All of the above 

What is a lease?

• A contract guaranteeing the sale of a property

• A contract guaranteeing that the landlord will make rent payments

• A legal contract granting use of an apartment for a set period of time 

Who is the landlord of a property?

• The individual that rents the apartment 

• The individual that helps to find the property

• The individual that receives payments for renting an apartment

Who is the tenant of a property?

• The individual who is renting the apartment

• The individual that helps to find the property 

• The individual who is offering the apartment for rent

Who is responsible for damages caused by the renters of an apartment?

• Tenant

• Landlord

• The Insurance Company

Your rent includes all utilities. The cost of utilities is $120.00 a month and your rent is $650.00. What is the total cost to the lessee per month?

• $120.00

• $650.00

• $770.00

Why is a background check necessary for renting?

• To check a person’s credit rating

• To know a person’s work history

• To check a person’s financial stability

• All of the above

A monthly budget should include a portion of your salary to go into savings for emergencies.

• True

• False

Why is it best to keep your money in a bank account? 

• It is not important to keep money in a bank

• Money in a bank account is insured by the federal government.

• Banks cannot be trusted and should not be given money to save. 

What are the benefits of having a banking account?

• ATM card
• Online bill pay
• Access to bank statements to track money 
• All of the above