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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If you have a complaint against The First National Bank of Edmond, who should you contact?
(Multiple Choice)
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If you have a problem with your creditor, the best solution is to:
(Multiple Choice)
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Mike Cook has been receiving calls at work every two hours from a collection company that is trying to collect a past due loan from him. He believes this is harassment and that the collections company is not allowed to do this. Which consumer protection law provides protection from this type of harassment?
(Multiple Choice)
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A valuable asset pledged to assure loan payments and subject to seizure upon default is called:
(Multiple Choice)
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The borrower's attitude toward his or her credit obligations is called:
(Multiple Choice)
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Which one of the following would not be a good use of a home equity loan?
(Multiple Choice)
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If you cosign, the creditor can collect this debt from you without first trying to collect from the borrower.
(True/False)
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Most of the information in your credit file may be reported for only ______ years.
(Multiple Choice)
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Which federal consumer credit law regulates the advertising of credit terms?
(Multiple Choice)
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Which federal law limits a cardholder's liability for unauthorized use of a card to $50?
(Multiple Choice)
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The credit cardholders who pay off their balances in full each month are known as convenience users.
(True/False)
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Which FICO credit score would represent the least risky borrower?
(Multiple Choice)
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The Fair Credit Billing Act sets the procedures for promptly correcting billing errors.
(True/False)
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If your monthly net (after-tax) income is $1,500, what should be your maximum amount spent on credit payments?
(Multiple Choice)
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The debt-to-equity ratio is calculated by dividing your monthly debt payments (not including house payments) by your net worth.
(True/False)
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Gordon Carey uses his Visa card to purchase a new digital camera and lens. What type of credit did Gordon use?
(Multiple Choice)
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Which federal credit law sets the procedure for promptly correcting billing mistakes?
(Multiple Choice)
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Consumer credit is based on trust in people's ability and willingness to pay bills when due.
(True/False)
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