| A | B |
|---|
| *Close the account by phone and in writing | then destroy the card. |
| *Once a year | from each of the three main credit reporting agencies |
| When Bryce attempted to borrow money at the bank | he learned that his credit score is low. Which statement best describes what this is likely to mean for Bryce? |
| The interest rates on his loan will be lower | since his credit score is low. |
| *The interest rates on his loan will be higher | since his credit score is low. |
| Jenny should apply for a different type of credit. Since she was applying for a bank loan | she should apply for a credit card. |
| Jake holds 2 store credit cards | a bank credit card |
| *When you are borrowing | you are spending future income. |
| Keep the total amount of money she has borrowed | including her mortgage and her car loan |
| Keep the total amount of money she has borrowed | including her mortgage and her car loan |
| *Keep the total amount of money she has borrowed | not including her house |
| Keep the total amount of money she has borrowed | not including her house |
| David earns $5000 per month at his accounting job. He has a student loan payment of $120 | a car loan of $300. Which statement is true? |
| To answer the essay test question about the meaning of open-end credit | Ryan should include which statement? |
| Megan’s card had a lower introductory interest rate for the first year and now the interest rate has increased | as stated on her contract. |
| The new computer Megan purchased made her account go over the credit limit for 1 week | until the credit card company processed her credit card statement. |
| Carson wallet with his driver’s license | a debit card and his credit card has been stolen. Which of the following is NOT something an identity thief might realistically do with this information? |
| Keep credit reports in an easily accessible location | so information can be accessed if fraud occurs |
| Tiffany was recently involved in a vehicle accident. In order to get her car fixed | her insurance company is requiring her to pay the first $500 of the repair bill because: |
| $0 | insurance will cover the entire medical bill |
| As part of Nicholas’ new job | his employers will provide health |
| If a person drives an automobile | they are required by law to have Automobile Liability Insurance. In which situation would this type of policy protect the policyholder? |
| James hit a deer while driving to work on a foggy morning | killing the deer and causing $2000 in damage to his car. |
| An uninsured driver ran a stoplight | hit James’ car |
| The difference between property and liability insurance depends on whether automobile | homeowners |
| *She would be renting the vehicle by making payments over time | although the vehicle title would remain with the lease grantor. |
| When making food decisions | which of the following is most likely to be least expensive? |
| Shelby is working on her spending plan and would like to spend less on her food for 6 months as she saves toward purchasing a more reliable vehicle. As she makes her plan | which factor would be least important to consider: |
