Question 1

You can take all of the following steps to recognize and avoid identity theft online, except

Accepted Answer

A)  responding promptly to e-mails asking you to click on a link and change the passwords for your online accounts. 
B)  using a secure browser. 
C)  reading the privacy policies of the Web sites you visit. 
D)  not downloading files sent to you by strangers. 
A)  responding promptly to e-mails asking you to click on a link and change the passwords for your online accounts. 
B)  using a secure browser. 
C)  reading the privacy policies of the Web sites you visit. 
D)  not downloading files sent to you by strangers.

Question 2

Which of the following is not one of the three primary credit bureaus?

Accepted Answer

A)  Equifax 
B)  Experian 
C)  TransUnion 
D)  Fair Isaac Corporation 
A)  Equifax 
B)  Experian 
C)  TransUnion 
D)  Fair Isaac Corporation

Question 3

The Equal Credit Opportunity Act allows a creditor to deny credit based on a person's age.

Accepted Answer

A) True 
 B)False

Question 4

With a credit score of over 500, you should have no problem getting approval for credit purchases.

Accepted Answer

A) True 
 B)False

Question 5

Identity theft occurs when an individual obtains, without your permission, any of the following information, except your

Accepted Answer

A)  Social Security number. 
B)  date and place of birth. 
C)  driver's license number. 
D)  bank account number. 
A)  Social Security number. 
B)  date and place of birth. 
C)  driver's license number. 
D)  bank account number.

Question 6

Discuss the reasons why someone would wish to steal your identity.

Accepted Answer

Your identity may be stolen to

Question 7

Which of the following will not help you establish a good credit history?

Accepted Answer

A)  Paying your phone bill on time 
B)  Financing a car and making payments on time 
C)  Making as many purchases as possible with cash 
D)  Never exceeding your credit limit on your credit card 
A)  Paying your phone bill on time 
B)  Financing a car and making payments on time 
C)  Making as many purchases as possible with cash 
D)  Never exceeding your credit limit on your credit card

Question 8

Use the following two columns of items to answer the matching questions below:
-Social Security card
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 9

Your credit report can be requested online and should be checked periodically for errors.

Accepted Answer

A) True 
 B)False

Question 10

Why is it so important that you make all of your credit and loan payments on time?

Accepted Answer

A)  Late payment history lasts 7 years on your credit file. 
B)  The lender will be annoyed and not extend additional credit to you. 
C)  Late payment history lasts 10 years on your credit file. 
D)  Paying your credit cards and loans late just once will lead to bankruptcy. 
A)  Late payment history lasts 7 years on your credit file. 
B)  The lender will be annoyed and not extend additional credit to you. 
C)  Late payment history lasts 10 years on your credit file. 
D)  Paying your credit cards and loans late just once will lead to bankruptcy.

Question 11

Which of the following can be used by a creditor in deciding whether or not to grant credit?

Accepted Answer

A)  Credit history 
B)  Race 
C)  Gender 
D)  Both A and C are correct. 
A)  Credit history 
B)  Race 
C)  Gender 
D)  Both A and C are correct.

Question 12

If you find that you will not be able to make credit payments on time, the best course of action is to immediately notify the creditor.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is not true regarding revolving open-end credit?

Accepted Answer

A)  Credit cards are an example of it. 
B)  A specific maximum amount of credit is established. 
C)  If the balance is not paid off over a period of months, a penalty is incurred. 
D)  Interest is charged on the remaining balance each month. 
A)  Credit cards are an example of it. 
B)  A specific maximum amount of credit is established. 
C)  If the balance is not paid off over a period of months, a penalty is incurred. 
D)  Interest is charged on the remaining balance each month.

Question 14

Which of the following is not a disadvantage of using credit?

Accepted Answer

A)  Makes it easier to save 
B)  The potential high cost 
C)  The difficulty in paying back loans 
D)  The potential for personal bankruptcy 
A)  Makes it easier to save 
B)  The potential high cost 
C)  The difficulty in paying back loans 
D)  The potential for personal bankruptcy

Question 15

Free credit reports are accessible to all U.S. consumers at

Accepted Answer

A)  www.creditreport.com. 
B)  www.freecreditreport.com. 
C)  www.annualcreditreport.com. 
D)  www.experian.com. 
A)  www.creditreport.com. 
B)  www.freecreditreport.com. 
C)  www.annualcreditreport.com. 
D)  www.experian.com.

Question 16

According to the Federal Trade Commission, the average individual monetary loss as a result of identity theft is about

Accepted Answer

A)  $10,500. 
B)  $47,500. 
C)  $1,000. 
D)  $500. 
A)  $10,500. 
B)  $47,500. 
C)  $1,000. 
D)  $500.

Question 17

Use the following two columns of items to answer the matching questions below:
-skimming
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 18

Identity theft only occurs through individuals who do not have legitimate access to your information.

Accepted Answer

A) True 
 B)False

Question 19

The impact of credit ________ saving and ________ spending.

Accepted Answer

A)  increases; decreases 
B)  decreases; increases 
C)  decreases; decreases 
D)  Credit has no relationship on saving and spending. 
A)  increases; decreases 
B)  decreases; increases 
C)  decreases; decreases 
D)  Credit has no relationship on saving and spending.

Question 20

Which of the following would not be contacted in all cases of identity theft?

Accepted Answer

A)  Local law enforcement 
B)  Federal Trade Commission 
C)  Postal Inspection Service 
D)  The three major credit bureaus 
A)  Local law enforcement 
B)  Federal Trade Commission 
C)  Postal Inspection Service 
D)  The three major credit bureaus

You can take all of the following steps to recognize and avoid identity theft online, except

Which of the following is not one of the three primary credit bureaus?

The Equal Credit Opportunity Act allows a creditor to deny credit based on a person's age.

With a credit score of over 500, you should have no problem getting approval for credit purchases.

Identity theft occurs when an individual obtains, without your permission, any of the following information, except your

Discuss the reasons why someone would wish to steal your identity.

Which of the following will not help you establish a good credit history?

Your credit report can be requested online and should be checked periodically for errors.

Why is it so important that you make all of your credit and loan payments on time?

Which of the following can be used by a creditor in deciding whether or not to grant credit?

If you find that you will not be able to make credit payments on time, the best course of action is to immediately notify the creditor.

Which of the following is not true regarding revolving open-end credit?

Which of the following is not a disadvantage of using credit?

Free credit reports are accessible to all U.S. consumers at

According to the Federal Trade Commission, the average individual monetary loss as a result of identity theft is about

Identity theft only occurs through individuals who do not have legitimate access to your information.

The impact of credit saving and spending.

Which of the following would not be contacted in all cases of identity theft?

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

Exam 7: Assessing and Securing Your Credit

You can take all of the following steps to recognize and avoid identity theft online, except

Which of the following is not one of the three primary credit bureaus?

The Equal Credit Opportunity Act allows a creditor to deny credit based on a person's age.

With a credit score of over 500, you should have no problem getting approval for credit purchases.

Identity theft occurs when an individual obtains, without your permission, any of the following information, except your

Discuss the reasons why someone would wish to steal your identity.

Which of the following will not help you establish a good credit history?

Your credit report can be requested online and should be checked periodically for errors.

Why is it so important that you make all of your credit and loan payments on time?

Which of the following can be used by a creditor in deciding whether or not to grant credit?

If you find that you will not be able to make credit payments on time, the best course of action is to immediately notify the creditor.

Which of the following is not true regarding revolving open-end credit?

Which of the following is not a disadvantage of using credit?

Free credit reports are accessible to all U.S. consumers at

According to the Federal Trade Commission, the average individual monetary loss as a result of identity theft is about

Identity theft only occurs through individuals who do not have legitimate access to your information.

The impact of credit ________ saving and ________ spending.

Which of the following would not be contacted in all cases of identity theft?

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

The impact of credit saving and spending.