Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
PF 7.02
Test Description: 7.02 questions
Instructions: Answer all questions to get your test result.
1) An advantage of using credit is:
A
having to pay more for goods and services.
B
running the risk of having goods repossessed.
C
the possibility of having credit cards stolen.
D
not having to carry cash when shopping.
2) Which is MOST LIKELY purchased using a regular charge account?
A
Buying new furniture for a bedroom
B
Buying a new gas range for the kitchen
C
Paying for electrical power for the past month
D
Shopping for clothes in a retail department store
3) Which is an example of unsecured credit?
A
The lender asked the borrower to find a person to cosign the loan.
B
The borrower had could not get a loan because his credit ratings were poor.
C
The lender did not require collateral because the borrower had good credit reports.
D
The borrower had to use his home ownership as collateral to buy the office building.
4) Writing a check from an account when there are not enough funds to cover it can reflect poorly on one’s:
A
capital
B
capacity
C
conditions
D
character
5) Diner’s Club is an example of:
A
consumer advocates.
B
travel and entertainment cards.
C
credit card companies.
D
collection agencies.
6) Which is an example of a sub-prime, or non-preferred, lender?
A
Hannah borrowed money from a savings and loan association to buy land.
B
Greg obtained a loan from the credit union to repair his back porch.
C
Ellen obtained a payday loan by guaranteeing the loan with a personal check.
D
Frank secured a cash advance from his credit card company.
7) Before he signed the loan agreement, Jerry read the fine print and noticed that the agreement called for a balloon payment to retire the loan. What should he do?
A
Ask the lender to promise he will not expect this large payment at the end
B
Go ahead and sign the agreement since a balloon payment is not a concern
C
Sign the agreement, then ask the lender to explain what a balloon payment is
D
Find out the amount of payment and what would happen if he were unable to pay
8) Which is a sign of debt problems?
A
Mr. West opened a new credit account when he reached his limit on other accounts
B
Ms. Dennis contacted Experian to obtain a copy of her credit report
C
Ms. Addison pays all of her bills on time each month
D
Mrs. Young never uses her credit card to pay her monthly bills
9) Which is a strategy for getting out of debt?
A
Teresa reached the credit limit on her credit card
B
Wanda uses her credit cards to pay her monthly bills
C
Vince moved to a new town to try to escape his creditors
D
Sean made an appointment with a credit counselor
10) Rosie decided she had no choice but to file Chapter 13 bankruptcy. What can you conclude?
A
She did not have to have a plan for repayment
B
She was able to keep most of her personal property
C
She was not required to have credit counseling
D
She did not have to take a personal finance course
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2022
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?