Personal Finance Review 2 Question Preview (ID: 25815)
Review 2.
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To avoid an interest charge on a credit card. the cardholder must:
a) Pay less than the minimum due each month
b) Pay the minimum due each month
c) Pay the full amount each month
d)
Which is considered an excellent credit score:
a) 350
b) 850
c) 1,000
d) 2,500
A debit card takes money directly out of your checking account
a) True
b) False
c)
d)
Not every credit card has an annual fee
a) True
b) False
c)
d)
The confidence in a borrower's ability and intention to repay
a) Debit
b) Savings
c) Budgeting
d) Credit
When a person has a rewards card, an example of a type of reward is:
a) Entertainment points
b) Cash back
c) Frequent flier miles
d) All of the above
What is an advantage of renting over buying?
a) Privacy
b) Tax deductions
c) mobility
d) appreciation
The difference between the value of your home and how much you still owe on your mortgage is known as:
a) Earnest money
b) Equity
c) Appreciation
d) Leverage
A major disadvantage of renting rather than buying is
a) Difficult to relocate
b) Cheaper
c) You don't make the rules
d)
APR stands for
a) always practice reading
b) annual percentage rate
c) adjusted penalty rate
d)
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