Finance 120 Final Exam

Randy Hill wants to retire in 20 years with $1,000,000. If he can earn 10% per year on his investments, how much does he need to deposit each year to reach his goal? Round your answer to the nearest dollar. a. $17,460 b. $18,000 c. $5,727 d. $25,000 e. none of these are correct

a. $17,460

The tax designed to ensure that those who receive tax breaks also pay their fair share of taxes is called the a. AMT b. Average tax rate c. Income tax rate d. Marginal tax rate e. Total tax rate

a. AMT

Which of the following is organized as a corporation with investors (stockholders) contributing the needed capital to operate? a. a commercial bank b. a check-cashing outlet c. a pawnshop d. a payday loan facility e. a rent-to-own center

a. a commercial bank

Which of the following offers a full range of financial services including checking, savings, lending, and other services a. a commercial bank b. a check-cashing outlet c. a pawnshop d. a payday loan company e. a rent-to-own center

a. a commercial bank

Gross income less Adjustments to income equals a. adjusted gross income b. earned income c. exclusions from income d. tax-deferred income e. tax-exempt income

a. adjusted gross income

A vehicle lease has several costs. Which of the following is the price of the vehicle? a. capitalized cost b. money factor c. payment schedule d. residual value e. all of these

a. capitalized cost

Earning interest on previously earned interest is called a. compounding b. liquidity c. minimum deposit d. rate of return e. safety

a. compounding

This type of promotion immediately reduces the amount a family spends on groceries each week a. coupons b. open dating c. rebates d. unit pricing e. warranty

a. coupons

Common stock and bond brokerage statements are an example of a(n) ____________ record a. investment b. insurance c. estate planning d. tax e. consumer purchase

a. investment

If you have a $150,000 30-year 5% mortgage, how much of your first monthly payment of $805.50 would go toward interest? a. $180.50 b. $625.00 c. $665.28 d. $805.50 e. $7,500.00

b. $625.00

Georgina and Henry have a family and are looking at houses. Which of the following is correct? a. A "handyman's special" will be set at a higher price than one that is in good condition b. They should assess the school system in the area they want to live c. The amount they can afford for housing will be primarily determined by the down payment d. Their first home should contain all the features desired e. They should complete all repair work themselves to increase costs

b. They should assess the school system in the area they want to live

Madeline wants to purchase a larger house. However, she has not yet sold her current home. She may want to include a(n) ___________ in her offer a. appraisal b. contingency clause c. dual agent d. counteroffer e. purchase agreement

b. contingency clause

The tenant is the a. lease b. lessee c. lessor d. owner e. sublease

b. lessee

During the closing for a home purchase, you will normally do which of the following? a. order an appraisal b. pay all closing costs, settle last-minute details, and sign documents c. schedule an inspection of the condition of the home d. sign documents and pay half of the settlement costs e. review zoning laws for the municipality where the home is located

b. pay all closing costs, settle last-minute details, and sign documents

Which of the following is NOT a valid reason for borrowing? a. borrowing for a college education b. paying for everyday living expenses c. buying a car so a homemaker can return to work d. paying for a medical emergency e. all of these are valid reasons for borrowing

b. paying for everyday living expenses

The amount printed on a label with the suggested retail price that is posted on a vehicle is called the a. invoice price b. sticker price c. set price d. capitalized cost e. residual value

b. sticker price

Joseph needs to complete his income taxes for the year. He has already calculated his adjusted gross income. What does he need to do next? a. add his tax-exempt income b. subtract his itemized deductions c. add his tax credits d. subtract his tax-exempt income e. add his tax exemptions

b. subtract his itemized deductions

Which of the following is NOT an action that can reduce your taxes? a. owning a house b. taking out a consumer loan c. paying certain work expenses such as union dues d. depositing money into flexible spending account (FSA) e. investing in municipal bonds

b. taking out a consumer loan

The rule of 72 is: a. a tool to determine the number of years until retirement for an employee b. used to estimate how fast prices will double using a given annual inflation rate c. the legal code for requiring companies to provide a match on retirement savings d. used to calculate interest rates for savings e. the number of steps required to complete a financial plan

b. used to estimate how fast prices will double using a given annual inflation rate

Which of the following appears as a cash outflow on a cash flow statement? a. liquid assets b. variable expenses c. net worth d. personal possessions e. real estate assets

b. variable expenses

Which of the following is NOT correct? a. Alex's daily maintenance and timely repairs around his home should make it attractive to potential buyers b. Brenda's new hot tub will probably not increase the selling price c. When showing the home, Caryn's suggestion to open drapes but keep lights turned off to conserve energy will give her property a positive image d. Darryl's decision to sell his house "by owner" could save him several thousands of dollars in commission e. Eric's listing with a real estate agent will provide him with services such as advice on features of his home to highlight

c. When showing the home, Caryn's suggestion to open drapes but keep lights turned to conserve energy will give her property a positive image

Lonnie wanted to sell his house but didn't know what price to ask. He should consider all of the following except a. current mortgage rates b. demand in the housing market c. his original cost d. recent selling prices of comparable home in the area e. the appraised value of the home

c. his original cost

The owner/landlord is known as the a. lease b. lessee c. lessor d. renter e. sublease

c. lessor

Taxpayers over 65 can only deduct expenses that are greater than 7.5% of adjusted gross income for a. contributions to charitable organizations b. mortgage interest c. medical and dental expenses d. miscellaneous expenses e. taxes

c. medical and dental expenses

A vehicle lease has several costs. Which of the following is the amount paid monthly and the number of payments? a. capitalized cost b. money factor c. payment schedule d. residual value e. trade-in value

c. payment schedule

Information gathering is part of the _____________ phase of the research-based buying process a. evaluating alternatives b. post purchase activities c. pre shopping activities d. selection and purchase e. ordering activities

c. pre shopping activities

A no-haggling dealer presents the price of a new car to be accepted or rejected as stated and is called a ___________ dealer a. invoice price b. sticker price c. set price d. capitalized cost e. residual value

c. set price

Taxes on earnings that fund only age, survivor, and disability insurance benefits are called a. estate taxes b. excise taxes c. social security taxes d. real estate property taxes e. sales taxes

c. social security taxes

The consumer price index measures a. the prices of a fixed basket of goods and services in the United States b. the prices of goods and services in Bolivia c. the average change in prices of a fixed basket of goods and services of urban consumers d. the change in prices of a fixed basket of goods and services around the world e. the change in prices of a fixed basket of goods and services around the world

c. the average change in prices of a fixed basket of goods and services of urban consumers

Sam is comparing the costs of two loans. The principal amount of each loan is $5,000. One is due in one year and the other is due in four years. Both have the same stated rate of annual interest. Which of the following is true? a. the principal paid for the one-year loan will be lower than the principal paid for the four-year loan b. the principal paid for the one-year loan will be higher than the principal paid for the four-year loan c. the interest charges for the one-year loan will be lower than the interest charges for the four-year loan d. the interest charges for the one-year loan will be higher than the interest charges for the four-year loan e. the interest charges and principal payments cannot be compared for the two loans

c. the interest charges for the one-year loan will be lower than the interest charges for the four-year loan

Bankruptcy courts treat gift cards a. as illegal loans b. as brides c. the same way they handle unsecured debt d. as a smart choice e. the same as debit cards

c. the same way they handle unsecured debts

If a $10,000 investment earns a 7% annual return, what should its value be after 6 years? a. $10,000 b. $10,700 c. $15,000 d. $15,010 e. $15,100

d. $15,010

Fredrick received a $1,400 loan from the bank for a new appliance. The bank is using the simple interest formula for this two-year 8% loan. What is his total interest? a. $16 b. $80 c. $112 d. $224 e. $1,416

d. $224

Gwen had three accounts as listed here. In 2017, how much was her total insurance coverage by the FDIC? Bank A: $250,000 Bank B: $50,000 Bank C: $300,000 a. $250,000 b. $300,000 c. $550,000 d. $600,000 e. $825,000

d. $600,000

If you are denied credit, you can contact the credit bureau and ask for a copy of your credit report. The bureau cannot charge a fee for this service as long as you ask to see your files within of notification that your credit application has been denied a. 10 days b. 20 days c. 30 days d. 60 days e. 90 days

d. 60 days

A joint account with Sara and John allows a. only John to write checks b. only Sara to write checks c. Sara or John to complete a signature card d. John and Sara to both write checks on the account e. all of these

d. John and Sara to both write checks on the account

Which of the following is NOT correct? a. Renting is usually less costly in the short run b. Home ownership usually has long-term financial advantages c. Lifestyle and financial factors should be analyzed to determine if you should rent or buy d. Traditional financial guidelines suggest that your home should cost about five times your annual income e. renting offers mobility

d. Traditional financial guidelines suggest that your home should cost about five times your annual income

A budget deficit would result when a person's or family's a. actual spending is less than planned spending b. assets exceed liabilities c. actual spending equals planned spending d. actual spending exceeds planned spending e. net worth decreases

d. actual spending exceeds planned spending

When calculating federal income taxes, what increases "gross income"? a. exclusions b. tax-exempt income c. tax-deferred income d. alimony received e. tax deductions

d. alimony received

Pauline just submitted an offer on her dream home. As evidence of good faith, she also included a(n) a. appraisal b. contingency clause c. dual agent d. earnest money e. counteroffer

d. earnest money

Income that is taxed at a later date is a. Adjusted gross income b. earned income c. exclusions from income d. tax-deferred income e. tax-exempt income

d. tax-deferred income

If Diane was in a 25% tax bracket and received $1,000 tax credit, by how much would her taxes be reduced? a. $25 b. $50 c. $250 d. $500 e. $1,000

e. $1,000

Victor read the fine print for a checking account he was thinking about using. The fine print said, "A minimum balance of $500 is required. If your balance falls bellow this level, you will be assessed a monthly fee of $10." Since Victor was planning to keep only a $50 balance in his account, how much could he be charged each year? a. $0 b. $10 c. $50 d. $60 e. $120

e. $120

Given the following information, calculate the net worth: assets= $8,000 cash inflows= $6,000 cash outflows- $4,500 liabilities= $5,000 a. $500 b. $1,500 c. $2,000 d. $3,500 e. $3,000

e. $3,000

Karen bought a mixer. She received a warranty that covers only certain aspects of the product. If the product fails, she may be required to pay part of the costs for shipping or repairs. Which of the following warranties does she have? a. "As-is" warranty b. express warranty c. full warranty d. implied warranty e. limited warranty

e. limited warranty

All of the following are fixed operating costs for a vehicle except a. depreciation b. insurance c. interest on an auto loan d. license and registration e. maintenance and repairs

e. maintenance and repairs

Aidan wants to be able to tap or wave his phone at the point-of-sale terminal sensor to complete purchases. Which of the following tools should he use? a. a debit card b. an online payment c. a stored-value card d. a smart card e. mobile transfer

e. mobile transfer

Which of the following is a deduction to determine take-home pay? a. interest earned on savings b. commissions c. dividends d. housing, food and other living expenses e. social security taxes

e. social security taxes

Attempts to increase income through employment are part of the ________________ component of financial planning a. obtaining b. planning c. saving d. borrowing e. spending

a. obtaining

The step in the personal financial planning process that follows immediately after the step: "Create and implement your financial action plan" is a. review and revise the financial plan b. identify alternative courses of action c. determine current financial situation d. evaluate alternatives e. develop your financial goals

a. review and revise the financial plan

Jim Johnson was laid off from his job two months ago. He just received an offer for a position that pays 3/4 the salary of his old job. Why should he set up a financial plan? a. to increase the effectiveness of obtaining, using, and protecting his financial resources b. to decrease control of his financial affairs regarding debt c. to accept the lost of freedom from financial worries due to his new position d. to learn how to manage depending more on others e. to find out why he was laid off

a. to increase the effectiveness of obtaining, using, and protecting his financial resources

If you deposit $500 into a Certificate of Deposit earning 3%, what would be your earnings after 12 months a. $5 b. $15 c. $25 d. $30 e. $500

b. $15

At the end of the year, Walter received a form that showed his payments from independent contracting. That form is called a a. 1040 b. 1099 c. W-2 d. W-4 e. Schedule A

b. 1099

At the end of the year, Yvonne received a form from her bank that reported income from her savings. That form is called a a. 1040 b. 1099 c. W-2 d. W-4 e. Schedule A

b. 1099

Financial experts recommend monthly savings of _______ of gross income a. 0% b. 5-10% c. 20% d. 25-35% e. 50%

b. 5-10%

A credit card holder who pays off his balances in full each month is known as a. an impulsive lender b. a convenience user c. a home equity holder d. a borrower e. all of these are correct

b. a convenience user

While Paul was shopping for a new chainsaw, he found a great deal on a new drill and bought it. This is an example of a. comparison shopping b. compulsive shopping c. impulse shopping d. trade-off shopping e. warranty shopping

c. impulse shopping

Patrick is interested in opening a different account that will allow him to write a few checks each month for a fee per check, but he is unable to maintain a minimum balance. He should open a(n) a. regular savings account b. activity checking account c. interest-earning checking account d. share draft account e. passbook account

b. activity checking account

Steven needs to write a will. His best resource is (a) a. class action lawsuit b. attorney c. mediator d. arbitrator e. small claims court

b. attorney

A loan officer is examining whether or not to offer you a loan today. Specifically, she is examining your income and debts. Which of the five Cs of credit is the loan officer reviewing? a. character b. capacity c. capital d. collateral e. conditions

b. capacity

Logan paid a bill with a special form. He received this form at his financial institution and had to pay the amount of the check plus a fee. He used a a. certified check b. cashier's check c. merchant's check d. personal check e. traveler's check

b. cashier's check

Which of the following is an example of a financial opportunity cost? a. renting an apartment near school b. forgoing wages to attend school c. organizing income tax records d. purchasing automobile insurance e. using a personal computer for financial planning

b. forgoing wages to attend school

Home equity loans a. are based on the original purchase price of a home b. have interest that is tax-deductible c. will cause you to lose your car if the loan is not repaid d. require you to be a member of a credit union e. charge high interest rates ranging from 12 to 25%

b. have interest that is tax-deductible

Patrick Guitman recently graduated from college with $20,000 in student loans and $5,000 in credit card debt. He usually makes minimum payments on his debt and he has been late with three payments in the last year. He wants to buy a new car but was told that his interest rate on a loan would be very high. What is the most likely reason this might be so? a. general interest rates are very low b. his credit rating is below average which results in a higher interest rate c. he already has a student loan outstanding d. recent graduates are not allowed to have more than $25,000 in debt outstanding e. interest rates must be tied to the CPI

b. his credit rating is below average which results in a higher interest rate

Which of the following appears as a cash outflow on a cash flow statement? a. home value b. loan payment c. net worth d. balance of mortgage e. cash value of life insurance

b. loan payment

A vehicle lease has several costs. Which of the following is the interest rate used to calculate the monthly cost? a. capitalized cost b. money factor c. payment schedule d. residual value e. all of these

b. money factor

Given the information here, what should Jason's adjusted bank balance for his bank reconciliation be? Bank balance: $300 Outstanding checks: $129 Deposit in transit: $50 ATM Fees: $26 Interest Earned: $5 Checkbook balance: $242 a. $113 b. $171 c. $221 d. $242 e. $300

c. $221

Paul borrowed $200 to be repaid in one year. He paid 10% interest and a service charge of $3.00. What is his financing charge? a. $3.00 b. $20.00 c. $23.00 d. $200.00 e. $223.00

c. $23.00

Given the following information, calculate the liquidity ratio: Liabilities= $25,000 Liquid assets= $5,000 Monthly credit payments= $800 Monthly savings= $760 Net worth= $75,000 Current liabilities= $2,600 Take-home pay= $2,300 Gross income= $3,500 Monthly expenses= $2,050 a. 0.16 b. 0.41 c. 2.44 d. 2.50 e. 6.25

c. 2.44

A typical grace period offered by many credit card issuers is a. 0-10 days b. 10-20 days c. 20-25 days d. 30-40 days e. 45-60 days

c. 20-25 days

Fred has been completing his own tax returns for years. The IRS has recently contacted him with questions about some of his prior returns. How many years back is he responsible for providing documentation? a. until he files his returns b. 3 years c. 6 years d. 10 years e. 15 years

c. 6 years

At the end of the year, Xavier received a form from his employer that reported annual earnings and the amounts deducted for taxes. That form is called a a. 1040 b. 1099 c. W-2 d. W-4 e. Schedule A

c. W-2

At the end of the year, employees receive a ________ form that reports annual earnings and the amounts deducted for taxes from their employers a. 1040 b. 1099 c. W-2 d. W-4 e. Schedule A

c. W-2

Zach wants to open an account, but he doesn't know which kind is appropriate. He is interested in earning a higher interest rate and knows that he might not be able to write many checks from his account. In addition, he plans to keep at least $1,000 in his account so he can avoid paying a fee. He definitely wants to have federal deposit insurance. What kind of account should he open? a. a certificate of deposit b. an interest-earning checking account c. a money market account d. a money market fund e. a regular savings account

c. a money market account

Preston never opened his bank statements, so he was surprised to see that he had incurred a service charge, because his balance went below a required minimum balance. In addition, he did not earn interest for this month. What kind of account does Preston have? a. a regular savings account b. an activity checking account c. an interest-earning checking account d. passbook account e. all of these choices are correct

c. an interest-earning checking account

Which of the following will increase the net worth of a household a. decrease saving by $50 per month b. increase the amount borrowed for major purchases c. decrease amount owed on credit cards d. invest in possessions whose values do not increase e. increase spending by $5 per day

c. decrease amount owed on credit cards

Most products come with some guarantee of quality. This type of warranty states that a defective product can be fixed or replaced during a reasonable amount of time a. "as-is" warranty b. express warranty c. full warranty d. implied warranty e. limited warranty

c. full warranty

When Angela wanted to provide financial security for her dependents, she considered purchasing a product that would provide income replacement in the event of her untimely death and also provide a savings/investment component while she is alive. Which company would she most likely do business with? a. credit card company b. investment company c. life insurance company d. finance company e. payday loan company

c. life insurance company

Which of the following ratios indicates the number of months in which living expenses can be paid if an emergency arises? a. debt ratio b. current ratio c. liquidity ratio d. debt payments ratio e. savings ratio

c. liquidity ratio

The equation to calculate net worth is a. assets minus cash outflows=net worth b. cash inflows minus liabilities=net worth c. cash inflows minus cash outflows=net worth d. assets minus liabilities=net worth e. cash inflows plus liabilities=net worth

d. assets minus liabilities = net worth

The price of a leased vehicle is known as the a. invoice price b. sticker price c. set price d. capitalized cost e. residual value

d. capitalized cost

Personal bankruptcy can be filed under which section(s) of the U.S. bankruptcy code? a. chapter 7 b. chapter 11 c. chapter 13 d. chapter 7 and 13 e. chapter 11 and 13

d. chapter 7 and 13

The actual cost of living increase for a household will be: a. greater than the inflation rate as reported by the CPI since the index excludes the product or service with the highest inflation rate for the past 12 months b. lower than the inflation rate as reported by the CPI since the index excludes the product or service with the lowest inflation rate for the past 12 months c. equal to the inflation rate as reported by the CPI since it includes all products and services whether or not the prices have changed in the past 12 months d. either greater than or less than the inflation rate as reported buy the CPI depending on the household's cost of necessities purchased e. zero since the CPI does not measure consumer price changes

d. either greater than or less than the inflation rate as reported by the CPI depending on the household's cost of necessities purchased

An example of a fixed expense is a. medical expenses b. gifts c. utilities d. home rental payment e. recreation

d. home rental payment

Which of the following is a cash inflow? a. payment for rent b. purchase of groceries c. payment for loan d. income from employment e. payment for medical expenses

d. income from employment

When Paul completes his taxes, he can include all of the following as exemptions except a. his 12-year-old son b. himself c. his 22-year-old daughter who is a full-time student d. his wife e. his 20-year-old son who is working full-time and living in an apartment

e. his 20-year-old son who is working full-time and living in an apartment

Which of the following best describes the concept of the time value of money? a. personal opportunity costs such as time lost on an activity b. financial decisions that require borrowing funds from a financial institution c. changes in interest rates due to changes in the supply and demand for money in our economy d. increases in an amount of money as a result of interest earned e. changing demographic trends in our society

d. increases in an amount of money as a result of interest earned

A personal balance sheet reports a. amounts budgeted for spending b. income and expenses for a period of time c. earnings on savings and investments d. items owned, amounts owed, and your net worth e. family financial goals

d. items owned, amounts owed and your net worth

Increased consumer saving and investing is likely to be accompanied by a. lower union wages b. higher interest rates c. lower production costs d. lower interest rates e. higher inflation

d. lower interest rates

Athena wants to determine if she should itemize her deductions. She has identified several possible deductions. Which of the following is NOT a proper itemized deduction? a. contributions to charitable organizations b. mortgage interest c. medical and dental expenses that exceed 10% of AGI d. Miscellaneous expenses less than 2% of AGI e. state income taxes

d. miscellaneous expenses less than 2% of AGI

Rhonda Miller wants to take out a 4 year loan to purchase a car. What type of computation would she use to calculate her monthly payments? a. present value of a single amount b. future value of a single amount c. simple interest d. present value of an annuity e. future value of an annuity

d. present value of an annuity

Credit files can include all of the following except a. employer, position, and income b. previous address c. spouse's name, social security number, employer, and income d. race or nationality e. checks returned for insufficient funds

d. race or nationality

Credit bureaus get their information from all of the following sources except a. banks b. credit card companies c. finance companies d. references e. stores

d. references

A vehicle lease has several costs. Which of the following is the expected value at the end of the lease? a. capitalized cost b. money factor c. payment schedule d. residual value e. trade-in value

d. residual value

Which of the following is a type of electronic payment? a. certified check b. interest-earning checking account c. money order d. smart card e. traveler's check

d. smart card

Making financial decisions related to income involves all of the following except a. spending b. saving c. sharing d. taking e. all of these are financial decisions

d. taking

A line of credit is a. the equal payments required for one-time loans b. the loan amount for installment cash credit c. the maximum loan amount for closed-end credit d. the maximum dollar amount of credit the lender has made available to a borrower e. the monthly payment required for single lump-sum credit

d. the maximum dollar amount of credit the lender has made available to a borrower

If you want to buy a relatively large quantity of U.S. savings bonds, you may purchase them through a. the state government office b. the executive branch c. a beneficiary d. the local government office e. a TreasuryDirect account

e. a TreasuryDirect account

Which of the following will likely provide the most expensive loans? a. a credit card company b. an investment company c. a life insurance company d. a finance company e. a payday loan company

e. a payday loan company

Which of the following is a liquid asset? a. savings/money market accounts b. cash surrender value of life insurance c. checking account balance d. money market accounts e. all of these are liquid assets

e. all of these are liquid assets

The major sections of Form 1040 include all of the following except a. filing status and exemptions b. Adjustments to Income (AGI) c. tax credits d. signature e. all of these are major sections of Form 1040

e. all of these are major sections of Form 1040

Which of the following questions is NOT needed before deciding how and when to make a major purchase? a. Do I have the cash I need for the down payment? b. Does the purchase fit my budget? c. Could I postpone the purchase? d. Could I use the credit I need for this purchase in some better way? e. All of these questions should be considered

e. all of these questions should be considered

A service contract a. is better than an extended warranty b. is an agreement to cover repair during the implied warranty period c. is included automatically with the purchase of a vehicle d. usually does not cover the engine cooling system e. covers the repair costs of a product

e. covers the repair costs of a product

An example of a variable expense is a(n) a. mortgage or rent payment b. installment loan payment c. monthly train ticket for commuting to work d. monthly allocation for life insurance e. electric bill

e. electric bill

Jennifer Rodriguez plans to attend graduate school in 5 years. She thinks that she will need a total of $32,000 to pay for school, and she wants to save money each month to reach her goal. What type of computation should she use a. present value of a single amount b. future value of a single amount c. simple interest d. present value of annuity e. future value of an annuity

e. future value of an annuity

Which is NOT true about the Fair Credit Reporting Act? a. it regulates the use of credit reports b. it requires deletion of out-of-date information c. it places limits on who can obtain your credit report d. it places limits on who can obtain a report e. it gives borrowers the right to know why they are denied credit

e. it gives borrowers the right to know why they are denied credit

While evaluating alternatives, comparison shopping will be beneficial for buying a. inexpensive items b. one-time purchases of low-cost products c. products whose prices are the same at all retailers d. products whose quality is the same at all retailers e. items that can be researched easily with advertisements

e. items that can be researched easily with advertisements

Which of the following is most correct? a. a current budget belongs in your safe deposit box b. a warranty belongs in a safe deposit box c. adoption papers belong in a home file d. a death certificate should be kept in a home file e. tax records belong in a home file

e. tax records belong in a home file

If you are denied credit a. you have a legal right to sue the credit bureau b. your parent can purchase a copy of your credit report c. you have a legal right to sue the company that denied you credit d. the denial will remain in your credit file for 10 years e. you are entitled to a free copy of your credit report

e. you are entitled to a free copy of your credit report

During pre-shopping activities, which of the following sources would be the LEAST helpful when purchasing a vehicle? a. personal contacts to learn about product performance b. media information with purchasing advice c. independent testing organizations like Consumers Union d. online reviews e. your cousin who has never purchased a car

e. your cousin who has never purchased a car