Unit 2 Test Review TF And Vocabulary Question Preview (ID: 32712)


Unit 2 Debt Test True/False And Vocabulary Questions. TEACHERS: click here for quick copy question ID numbers.

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

There are three credit bureaus: Experian, TransUnion, and Equifax.
a) True
b) False
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 to have a credit card to rent a car or check in to a hotel
a) False
b) True
c)
d)

The Federal Trade Commission (FTC) is one of many U.S. federal agencies that regulate the consumer credit system and enforce the laws related to it.
a) True
b) False
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 a friend or relative.
a) False
b) True
c)
d)

A federal court procedure that helps consumers get rid of their debts and repay their creditors is called
a) bankruptcy
b) credit report
c) credit score
d) debt snowball

A detailed report of an individual's credit history is a
a) Credit report
b) credit score
c) credit card
d) bankruptcy

Type of card issued by a bank that allows users to finance a purchase
a) Credit card
b) credit report
c) credit score
d) debt snowball

A measure of an individual's credit risk; calculated from a credit report
a) credit score
b) credit report
c) credit card
d) bankruptcy

Preferred method of debt repayment
a) debt snowball
b) bankruptcy
c) credit report
d) credit score

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