Question 1

Of the following statements, which is not a disadvantage of using credit?

Accepted Answer

A)  It can be costly to use. 
B)  It can be difficult to repay if overused. 
C)  It is more difficult to obtain than repay. 
D)  It may tempt you to make impulse purchases. 
A)  It can be costly to use. 
B)  It can be difficult to repay if overused. 
C)  It is more difficult to obtain than repay. 
D)  It may tempt you to make impulse purchases.

Question 2

The safest way to obtain new checks is to

Accepted Answer

A)  have them mailed first class to your house. 
B)  have them mailed first class to your work. 
C)  have them sent via United Parcel Service. 
D)  pick them up at the bank. 
A)  have them mailed first class to your house. 
B)  have them mailed first class to your work. 
C)  have them sent via United Parcel Service. 
D)  pick them up at the bank.

Question 3

The widespread adoption of EMV technology is likely to reduce

Accepted Answer

A)  pretexting. 
B)  phishing. 
C)  pharming. 
D)  skimming. 
A)  pretexting. 
B)  phishing. 
C)  pharming. 
D)  skimming.

Question 4

Posing as an employee of a financial institution to obtain information for purposes of identity theft is an example of pretexting.

Accepted Answer

A) True 
 B)False

Question 5

Very high credit scores are considered anything over ________.

Accepted Answer

The answer of Very high credit scores are considered anything...

Question 6

An advantage to credit is it reduces the need for writing checks.

Accepted Answer

A) True 
 B)False

Question 7

Use the following two columns of items to answer the matching questions below:
-FTC
A)something you should install on your computer to protect you from hackers and worms
B)the federal agency that acts as a clearinghouse for all identity theft complaints
C)obtaining information on a person's identity from discarded items
D)something you should never carry in your wallet
E)copying credit information from the magnetic strip on a credit card

Accepted Answer

The answer of Use the following two columns of items...

Question 8

What steps can you take to improve your credit score?

Accepted Answer

A) CATCH UP LATE PAYMENTS; B)

Question 9

If a person obtains your credit card number by standing close enough to you to either see your credit card or hear you speak the number during a telephone call, they are

Accepted Answer

A)  shoulder surfing. 
B)  dumpster diving. 
C)  pretexting. 
D)  skimming. 
A)  shoulder surfing. 
B)  dumpster diving. 
C)  pretexting. 
D)  skimming.

Question 10

The item that receives the most weight in the FICO credit scoring system is

Accepted Answer

A)  the amount of credit used each month. 
B)  credit payment history. 
C)  credit utilization. 
D)  credit inquiries. 
A)  the amount of credit used each month. 
B)  credit payment history. 
C)  credit utilization. 
D)  credit inquiries.

Question 11

Using a shredder to destroy personal data will protect you from shoulder surfing.

Accepted Answer

A) True 
 B)False

Question 12

If you refrain from using any credit, it will assure you the lowest possible interest rate when you decide to use it.

Accepted Answer

A) True 
 B)False

Question 13

At your place of employment, which of the following is acceptable?

Accepted Answer

A)  Use of your Social Security number as an employee number on your time card 
B)  Inclusion of your Social Security number on your employee identity badge 
C)  Inclusion of your Social Security number on your payroll registry in the accounting office 
D)  Inclusion of your Social Security number on your paycheck 
A)  Use of your Social Security number as an employee number on your time card 
B)  Inclusion of your Social Security number on your employee identity badge 
C)  Inclusion of your Social Security number on your payroll registry in the accounting office 
D)  Inclusion of your Social Security number on your paycheck

Question 14

Obtaining money, goods, and services are the only reasons for identity theft.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is not a factor in the FICO credit scoring?

Accepted Answer

A)  Credit utilization 
B)  Length of relationship with creditors 
C)  Marital status 
D)  Number of inquiries 
A)  Credit utilization 
B)  Length of relationship with creditors 
C)  Marital status 
D)  Number of inquiries

Question 16

Identity thieves that have systematically infiltrated corporations and financial institutions in order to facilitate large-scale identity thefts are usually a part of

Accepted Answer

A)  the Federal Trade Commission. 
B)  the Internal Revenue Service. 
C)  a well-organized crime ring. 
D)  a political party. 
A)  the Federal Trade Commission. 
B)  the Internal Revenue Service. 
C)  a well-organized crime ring. 
D)  a political party.

Question 17

In order to have good credit in the future, you must have used it wisely in the past.

Accepted Answer

A) True 
 B)False

Question 18

The most important element in FICO credit scoring is your payment history.

Accepted Answer

A) True 
 B)False

Question 19

If you are a victim of identity theft, you may be turned down for employment as a result of incorrect background information.

Accepted Answer

A) True 
 B)False

Question 20

Unless your identity is stolen by someone out of state, you should only report the crime to local law enforcement.

Accepted Answer

A) True 
 B)False

Of the following statements, which is not a disadvantage of using credit?

The safest way to obtain new checks is to

The widespread adoption of EMV technology is likely to reduce

Posing as an employee of a financial institution to obtain information for purposes of identity theft is an example of pretexting.

Very high credit scores are considered anything over ________.

An advantage to credit is it reduces the need for writing checks.

What steps can you take to improve your credit score?

If a person obtains your credit card number by standing close enough to you to either see your credit card or hear you speak the number during a telephone call, they are

The item that receives the most weight in the FICO credit scoring system is

Using a shredder to destroy personal data will protect you from shoulder surfing.

If you refrain from using any credit, it will assure you the lowest possible interest rate when you decide to use it.

At your place of employment, which of the following is acceptable?

Obtaining money, goods, and services are the only reasons for identity theft.

Which of the following is not a factor in the FICO credit scoring?

Identity thieves that have systematically infiltrated corporations and financial institutions in order to facilitate large-scale identity thefts are usually a part of

In order to have good credit in the future, you must have used it wisely in the past.

The most important element in FICO credit scoring is your payment history.

If you are a victim of identity theft, you may be turned down for employment as a result of incorrect background information.

Unless your identity is stolen by someone out of state, you should only report the crime to local law enforcement.

Overview of a Financial Plan

Planning With Personal Financial Statements

Applying Time Value Concepts

Using Tax Concepts for Planning

Banking and Interest Rates

Managing Your Money

Managing Your Credit

Personal Loans

Purchasing and Financing a Home

Auto and Homeowners Insurance

Health and Disability Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Asset Allocation

Retirement Planning

Estate Planning

Integrating the Components of a Financial Plan

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Exam 7: Assessing and Securing Your Credit

Of the following statements, which is not a disadvantage of using credit?

The safest way to obtain new checks is to

The widespread adoption of EMV technology is likely to reduce

Posing as an employee of a financial institution to obtain information for purposes of identity theft is an example of pretexting.

Very high credit scores are considered anything over ________.

An advantage to credit is it reduces the need for writing checks.

What steps can you take to improve your credit score?

If a person obtains your credit card number by standing close enough to you to either see your credit card or hear you speak the number during a telephone call, they are

The item that receives the most weight in the FICO credit scoring system is

Using a shredder to destroy personal data will protect you from shoulder surfing.

If you refrain from using any credit, it will assure you the lowest possible interest rate when you decide to use it.

At your place of employment, which of the following is acceptable?

Obtaining money, goods, and services are the only reasons for identity theft.

Which of the following is not a factor in the FICO credit scoring?

Identity thieves that have systematically infiltrated corporations and financial institutions in order to facilitate large-scale identity thefts are usually a part of

In order to have good credit in the future, you must have used it wisely in the past.

The most important element in FICO credit scoring is your payment history.

If you are a victim of identity theft, you may be turned down for employment as a result of incorrect background information.

Unless your identity is stolen by someone out of state, you should only report the crime to local law enforcement.

Overview of a Financial Plan

Planning With Personal Financial Statements

Applying Time Value Concepts

Using Tax Concepts for Planning

Banking and Interest Rates

Managing Your Money

Managing Your Credit

Personal Loans

Purchasing and Financing a Home

Auto and Homeowners Insurance

Health and Disability Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Asset Allocation

Retirement Planning

Estate Planning

Integrating the Components of a Financial Plan

Filters