Exam 6: Introduction to Consumer Credit
Exam 1: Personal Finance Basics and the Time Value of Money111 Questions
Exam 2: Financial Aspects of Career Planning101 Questions
Exam 3: Money Management Strategy: Financial Statements and Budgeting105 Questions
Exam 4: Planning Your Tax Strategy108 Questions
Exam 5: Financial Services: Savings Plans and Payment Accounts99 Questions
Exam 6: Introduction to Consumer Credit181 Questions
Exam 7: Choosing a Source of Credit: The Costs of Credit Alternatives136 Questions
Exam 8: Consumer Purchasing Strategies and Legal Protection99 Questions
Exam 9: The Housing Decision: Factors and Finances99 Questions
Exam 10: Property and Motor Vehicle Insurance115 Questions
Exam 11: Health, Disability, and Long-Term Care Insurance159 Questions
Exam 12: Life Insurance167 Questions
Exam 13: Investing Fundamentals125 Questions
Exam 14: Investing in Stocks142 Questions
Exam 15: Investing in Bonds135 Questions
Exam 16: Investing in Mutual Funds138 Questions
Exam 17: Investing in Real Estate and Other Investment Alternatives144 Questions
Exam 18: Starting Early: Retirement Planning175 Questions
Exam 19: Estate Planning151 Questions
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A friend comes to you for advice about improving their credit score. What advice would you give them? Make sure to include the five steps for improving your credit score.
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Credit is an arrangement to receive cash, goods, or services now and pay for them in the future.
(True/False)
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What does it mean when a credit card is cobranded?
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With closed-end credit, loans are made on a continuous basis and you make at least a partial payment each billing period.
(True/False)
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A bank that is looking at your past payment records on your loans is most likely examining which aspect of the 5 Cs of lending?
(Multiple Choice)
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The larger the debt-to-equity ratio, the riskier the situation is for lenders and borrowers.
(True/False)
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A lender requires a cosigner even when a borrower meets the lender's criteria for making a loan.
(True/False)
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In the 5 Cs of credit, conditions refers to general economic conditions that can affect your ability to repay a loan.
(True/False)
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Jim Roy visits the doctor for his annual check-up which costs $85. He is billed for this at the end of the month. What type of credit did Jim use?
(Multiple Choice)
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Which federal law allows consumers to withhold payment for faulty or defective goods or services (within certain limitations) when purchased with a credit card?
(Multiple Choice)
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"Shopaholics" and young adults are most vulnerable to misusing credit.
(True/False)
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An unauthorized person who obtains a credit report under false pretenses may be:
(Multiple Choice)
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Which one of the following is important to do to help avoid credit card fraud?
(Multiple Choice)
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The aging of the baby boom generation has added to the growth of consumer credit.
(True/False)
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Interest is a periodic charge for the use of credit, or other finance charges.
(True/False)
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Which federal consumer credit law starts all credit applicants off on the same footing?
(Multiple Choice)
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