Find out about upcoming educational events and review some of our trivia questions below. You may learn something new, or be inspired to consider a new budgeting or savings plan to help you achieve your personal financial goals.
Upcoming Bellco Events
Financial Trivia Night
Thursday, December 12 from 6:00 PM–7:00 PM at Resolute Brewery Company in Arvada
Let's test your financial trivia!
Get answers to the most common questions about personal finances.
Which of the following can help improve your credit score?
a. Having no credit cards
b. Paying your bills on time
c. Keeping a large balance on your credit card
d. Using as much of your credit limit as possible
What is one main difference between credit unions and banks?
a. Credit unions only accept members with great credit
b. You have to be a part of a workers union to join a CU
c. Unlike banks, credit unions are not-for-profit
d. Banks and credit unions are essentially the same
How much should you have in an emergency savings account?
b. 3 months of living expenses
c. 6 months of living expenses
d. An emergency savings account? Isn’t that what credit cards are for?
As a general rule, how long does a negative financial event, such as a delinquent payment, stay on your credit report?
a. 2 years
b. 4 years
c. 7 years
What may be considered a downside to leasing a car?
a. You can modify your car as you wish
b. You’ll pay more in the long run for a leased car than you will if you by a car and keep it for years
c. Lower monthly payments
d. You are responsible for repair costs once the warranty expires
Do credit unions offer leases?
What is one main benefit to using a debit card over a credit card?
a. Avoiding interest charges
b. Flexibility when funds are low
c. Better options to earn mileage rewards
d. The ability to improve your credit score
Which type of deposit account generally pays the highest interest rate?
a. Savings account
b. Checking account
c. Money market
d. Certificate of deposit
When someone bounces a check, who is usually charged a fee?
a. Only the check writer
b. Only the person cashing the check
c. Both the check writer and the person cashing the check
d. Neither the check writer nor the person cashing the check
If you put $100 in a savings account with an interest rate of 5% per year and left the money in the account for 5 years, how much would you have in the account at the end of the 5th year?
b. Between $105 and $124
d. More than $125
Which form of payment gives consumers the most protection in the case of loss or theft ?
a. Credit Card
b. Debit Card
If you charged $100 on a credit card and only paid off $15 a month, which card would charge you less over the next 12 months?
a. 0% APR card that charges a $1 fee every month
b. 6% APR card with no monthly fee
c. Both would cost the same
Generally, as your credit score increases, the interest rate you're charged on a new loan:
c. Remains the same
What is a 529 plan?
a. It's a retirement account that rolls over every May 29th
b. Tax-advantaged savings plan designed to help pay for education
c. Mortgage payment plan designed to help save money
What is NCUA?
a. National Credit Union Association
b. National Credit Union Administration
c. National Credit Union Accounts
d. National Credit union Advocates
What percentage of your income should you spend on monthly rent?
a. Whatever you can qualify for
b. No more than 25% of your gross pay or 35% of your take home income
c. No more than ½ your paycheck
d. No more than 60% of your take home income
How do you calculate daily interest?
a. (interest rate) x (number of days in the year) / current principal balance) = daily interest
b. (interest rate) x (current principal balance) / number of days in the year) = daily interest
Which best describes what is taken out of your paycheck from your total take-home pay?
a. Federal Income Tax, Social Security and Medicare contributions, and State and Local Income Taxes
b. Federal Income Tax, Sales Tax and Social Security contribution
c. Social Security and Medicare contributions
d. Federal Income Tax, Property Tax, Medicare and Social Security