MM 3 And 4 T/F Review Question Preview (ID: 23844)


T/F For Chapter 3 And 4 Test. TEACHERS: click here for quick copy question ID numbers.

You must establish credit in order to buy a house
a) True
b) False
c)
d)

If you're a victim of identity theft, you're only responsible for paying back half the debt
a) False
b) True
c)
d)

You can and should obtain a free copy of your credit report annually in order to check for any suspicious activity
a) True
b) False
c)
d)

You need a credit card to rent a car or check into a hotel
a) False
b) True
c)
d)

Dave says its okay to use a credit card if you pay it off every month
a) False
b) True
c)
d)

Teens are a huge target of credit card companies today
a) True
b) False
c)
d)

Co-signing a loan is a good way to help out a friend or relative
a) False
b) True
c)
d)

Your FICO score is only affected by your debt
a) True
b) False
c)
d)

One way to get out of debt is to sell something you have
a) True
b) False
c)
d)

A payment for a 30 year mortgage is twice as much as a payment for a 15 year mortgage payment
a) False
b) True
c)
d)

When you use your debit card, the amount is automatically withdrawn from your checking account
a) True
b) False
c)
d)

The bank will charge a fee for overdrafts on your account
a) True
b) False
c)
d)

The number one cause of divorce in America is stress and disagreements over money
a) True
b) False
c)
d)

If you write a zero-based budget every month, its not necessary to reconcile your account
a) False
b) True
c)
d)

Writing and following a zero-based budget will help you avoid overspending and impulse purchases
a) True
b) False
c)
d)

Budgeting is crucial to your financial success
a) True
b) False
c)
d)

Pay yourself first, means you should assign a portion of your income to saving and investing every month
a) True
b) False
c)
d)

Online bill allows you to make payments to whomever you wish without having to write a check and send it in the mail
a) True
b) False
c)
d)

Having more than one than one bank account is never a good idea since it can complicate money management
a) False
b) True
c)
d)

Setting up automatic account transfers is the easiest way to build your savings for your emergency fund or large purchases
a) True
b) False
c)
d)

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