Personal Finance Review 3 Question Preview (ID: 9978)


Personal Finance Review. TEACHERS: click here for quick copy question ID numbers.

The difference between a charge card and a credit card is that with a charge card,
a) you are never charged interest.
b) all of the above
c) you pay a lower annual fee.
d) the account is revolving.

Which of the following could not be used to make purchases on credit?
a) Visa card issued by your bank
b) a BP gasoline card
c) a GapCard
d) a debit card issued by your bank

If you find a credit card account that is not yours listed on your credit report, you should
a) notify the FCRA and the credit bureau.
b) all of the above
c) notify the credit bureau and the credit card company in writing.
d) notify all three credit bureaus in writing.

Which of the following can you do to prevent credit fraud?
a) Protect your personal and financial information.
b) all of the above
c) Notify creditors if your credit cards are stolen.
d) Check your credit report annually.

Which of the following is not included on a credit report?
a) the number of inquiries about the report
b) the amount of your annual income
c) the amount placed with collection agencies
d) the number of late payments made

An identity thief is most likely to get access to your personal information if
a) you write your Social Security number on your tax return.
b) all of the above
c) you use a locked post office box to receive mail.
d) you leave your receipt at the ATM.

Which of the following is not a reason for your credit card interest rate to go up?
a) You have never missed a payment on any credit account.
b) Your credit score went down.
c) You have exceeded your credit limit on another card.
d) Your debt level is too high.

The new balance on a credit card statement includes
a) debits for new purchases and interest.
b) all of the above
c) credits for returned items.
d) credits for previous payments.

Which of the following is not an advantage of using credit?
a) being able to purchase an item on sale even though you do not have the cash
b) keeping track of how much you spent on your vacation
c) being able to replace your broken garage door opener immediately
d) the opportunity cost of paying interest on interest

Which of the following cannot be done by online banking?
a) Check your account balance
b) cash a check
c) transfer money
d) pay bills

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