Exam 6: Building and Maintaining Good Credit
Exam 1: Understanding Personal Finance141 Questions
Exam 2: Career Planning76 Questions
Exam 3: Financial Statements,tools,and Budgets151 Questions
Exam 4: Managing Income Taxes196 Questions
Exam 5: Managing Checking and Savings Accounts181 Questions
Exam 6: Building and Maintaining Good Credit143 Questions
Exam 7: Credit Cards and Consumer Loans160 Questions
Exam 8: Vehicles and Other Major Purchases144 Questions
Exam 9: Obtaining Affordable Housing214 Questions
Exam 10: Managing Property and Liability Risk202 Questions
Exam 11: Managing Health Expenses126 Questions
Exam 12: Life Insurance Planning214 Questions
Exam 13: Investment Fundamentals173 Questions
Exam 14: Investing in Stocks and Bonds351 Questions
Exam 15: Investing Through Mutual Funds172 Questions
Exam 16: Real Estate and High-Risk Investments112 Questions
Exam 17: Retirement Planning257 Questions
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____ make both secured and unsecured small loans and require repayment on a monthly installment basis.
(Multiple Choice)
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Lending designed specifically for borrowers with low credit scores is called
(Multiple Choice)
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If you are unable to get completely out of debt every five years (except for a mortgage loan),you probably lean on debt too heavily.
(True/False)
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The most commonly used forms of credit by consumers are loans and credit cards.
(True/False)
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Lenders who focus primarily on borrowers with low credit scores make up the secondary lending market.
(True/False)
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You are seriously overindebted if your debt payments-to-disposable income ratio is
(Multiple Choice)
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A debt-to-equity method provides a quick idea of one's financial solvency.The larger the ratio,the riskier the likelihood of repayment.A ratio in excess of 0.25 is considered high.
(True/False)
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The finance charge on a loan is simply the interest charged by the lender.
(True/False)
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Many offers for credit monitoring services are actually negative option plans that automatically sign you up for a credit reporting service.
(True/False)
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Experian,Equifax,and TransUnion are the three largest national groups of credit bureaus.
(True/False)
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Under the continuous-debt method of determining whether you are carrying too much debt you should be able to get out of all debt except mortgage debt completely within four years.
(True/False)
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A debt management plan is an arrangement whereby the consumer makes monthly payments that are distributed to each creditor.
(True/False)
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A discharged debtor cannot use Chapter 7 of the Bankruptcy Act again for at least six years.
(True/False)
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To protect your credit card privacy,which of the following is recommended?
(Multiple Choice)
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