Unit 11: The Bottom Line On Borrowing Module 121: Factors That Affect Your Credit Rating Question Preview (ID: 26246)


Unit 11: The Bottom Line On Borrowing Module 121: Factors That Affect Your Credit Rating. TEACHERS: click here for quick copy question ID numbers.

many different people will use your credit history , they include
a) employers, loan officers, insurance agents, and landlords
b) Collateral
c) Capacity
d) The annual percentage rate (APR)

security given for loan, assets to secure the debt
a) Collateral
b) Capacity
c) Capital
d) Character

your ability to repay the debt. Do you have sufficient $money to repay a loan  
a) Capacity
b) Capital
c) Character
d) buy a home, purchase a car, make home improvements, get an education, find a better job, or receive better insurance rates.

good reputation, Integrity Do you pay your bills on time?refers to a borrower's reputation and history of paying obligations. Does the lender see you as a trustworthy person
a) Character
b) The annual percentage rate (APR)
c) A savings plan
d) FDIC 250,000

The true cost of credit that must be disclosed on a loan agreement  
a) The annual percentage rate (APR)
b) loan secured by some asset you own
c) there are state usury laws.
d) character, capacity, capital, conditions, and collateral.

The Five C's of Credit are factors that determine your creditworthiness
a) character, capacity, capital, conditions, and collateral.
b) cosigner
c) Credit history
d) Capital

The amount of an individual's take-home pay after taxes have been taken out
a) Gross Income
b) Net Income
c) A savings plan
d) Interest rate

which of the following is a sign that a person is having financial problems
a) changing jobs for a higher salary
b) paying bills with credit card cash advance
c) having high car expenses
d) using checks to pay for bills

A personal monthly budget contains both fixed and variable expenses. Which is considered a variable expense
a) car loan payments
b) rent
c) Life insurance
d) food

When making a purchase using an installment plan, the consumers agrees to repay the loan
a) within a short period of time
b) without being charged interest.
c) with interest
d) over a specified period of time plus monthly interest charges. In equal payments

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