Financial literacy

CFEP 3 Credit and Debt (S-413-CFEP)


Description
Note: You need to register "CFEP 0 Enroll" first.
This course will address topics such as:
- When can you get money when you do not have enough to fulfill a need
- Which banking services are most needed for daily life
- What is credit and how is it established
- What is a credit score
- What are the laws that protect consumers
Content
  • Overview
  • Section 1: Places to Get Money
  • Places to get money
  • ATMs and money
  • Money circulation
  • Earned money
  • Emergency fund
  • Section 2: Interest on Borrowing or Lending
  • Determining simple interest
  • Compound interest
  • The rule of 72
  • Difference between interest and an APY
  • Credit card interest calculation
  • Credit score
  • Section 3: Banking
  • Banking
  • Main segments of the financial-services industry
  • Bank services
  • Common financial institutions where you can put money
  • Opening a bank account
  • Selecting a bank
  • Bank selection checklist
  • Service fees
  • Functions of bank and credit statements
  • Section 4: Electronic Banking
  • Electronic Banking
  • Online banking
  • Mobile banking
  • Section 5: Credit and Loans
  • Credit and Loans
  • Credit in general
  • Types of credit to leverage
  • Borrowing money
  • Ways to borrow money
  • Shopping for a credit card
  • A typical loan
  • Loan payments
  • Section 6: Credit Establishments
  • Building good credit
  • Credit bureau
  • Credit score
  • Section 7: The Dangers of Excessive Debt
  • Indicators of excessive debt
  • The negative impact of excessive debt
  • Repairing a credit problem
  • Section 8: Laws to Protect Consumer Credit
  • The Truth in Lending Act
  • The Fair Credit Billing Act
  • The Fair Credit Reporting Act
  • The Fair Debt Collection Practices Act
  • The Credit Card Act
  • Section 9: Alternative Financing
  • Alternative Financing
  • Check-cashing services
  • Personal guarantees
  • Pawnshops
  • Rapid tax refunds
  • Rent to own
  • Summary and Final Exam
  • Key Aptitudes
  • Concepts
  • Credit and Debt Test
Completion rules
  • All units must be completed
  • Leads to a certification with a duration: 1 year
Prerequisites