Unit 5 Lesson 3 Review Question Preview (ID: 58954)


Unit 5 Lesson 3 Personal Finance Review. TEACHERS: click here for quick copy question ID numbers.

A net worth statement is a list of what an individual ______, minus what they _______.
a) owns, owe
b) likes, dislike
c) has, give away
d) spends, make

Before completing your net worth statement, you will need to determine the current ____________ of the items you own.
a) total
b) value
c) look
d) ebay price

After completing an income statement, if the number is __________, then you are spending more than you earn.
a) big
b) small
c) positive
d) negative

The easiest way to pay down debt is to cut back on what?
a) fixed expenses
b) interest rates
c) monthly payments
d) other expenses

Decreasing your credit card balance automatically decreases what else?
a) monthly expenses
b) interest rate
c) income
d) net worth

A credit report will not include your what?
a) Employers
b) Financial history
c) Age
d) Credit score

Which of the following is not one of the three Cs of credit reporting?
a) Character
b) Capacity
c) Collateral
d) Clear

Credit reporting agencies can even do calculations to see what?
a) how much you spend on clothes
b) what your age is
c) what your gender is
d) how much family you have

Which of the following could NOT be offered up as collateral?
a) House
b) Car
c) Antique vase
d) Income

What does DTI stand for?
a) don't take interest
b) debt to income ratio
c) debt trials instead
d) don't trace interest

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