personal finance chapter 4

A clothing store credit card is an example of what type of debt?A.Revolving credit B. Installment credit C. Personal loan D. Lien

A

Which of these is not one of the main credit bureau reporting agencies? A. Identifax B. Equifax C. TransUnion D. Experian

A

Which of the following is not factored into the loan payment on a new car? A. Term B. Equity C. Interest D. Principal

B

Predatory lenders use all of the following to prey on desperate people except . . . A. Unfair practices B. Deceptive tactics C. Truthful logic D. Fraudulent info

C

With a debit card, you can do everything you can do with a credit card except what? A. Rent a car B. Stay at a hotel C. Go into debt D. Fly on an airplane

C

Which of these isn't a marketing tactic to get you to use credit? A. 0% interest B. 1.5% cash back C. Introductory offer D. 50% off sale

D

If a loan is not repaid, the ____ of the borrower—used as security for the debt—could be sold by the lender.

collateral

A(n) ____ reports on a person's credit history.

credit bureau

A(n) _____ is a number that indicates the likelihood of someone repaying debt.

credit score

When you fail to repay a loan on time, you're referred to as being in _____ .

default

When an asset loses value over time, that's _____ .

depreciation

Checking your credit report regularly can help you spot any signs of _____

identity theft

Making fixed payments on a loan over a set period of time is an example of ____ .

installment credit

When an item is worth less than what you owe on it, that's called_____ .

negative equity

The first step of the debt snowball method is to list all your debts _____

smallest to largest

The amount of time you have to pay back a loan is called the ____ of the loan.

term