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- 1. Multiple Choice
Credit history includes:
Library fines
Savings and credit card accounts
Being a good friend
Only positive items, regardless of your borrowing past
- 2. Multiple Choice
A savings account:
Is no use in developing a credit history
Should have your correct Social Security Number attached so that it helps you credit history
Can be used to write checks and is a credit account
Can only be opened once you are 18 years old
- 3. Multiple Choice
A regular paycheck helps your credit score because:
It can be cashed and spent quickly
It has taxes pulled out
It shows you will not pay your bills on time
It indicates you are likely a good credit risk
- 4. Multiple Choice
Negative items on a credit report that are not correct:
Can never be removed
Don't affect your credit rating
Are best ignored
Should be removed once the mistake is shown to the credit reporting company
- 5. Multiple Choice
Your credit history tells:
The history of your saving, borrowing, and repayment performance
The history of your grade report cards
The history of the formation of the Experian and Equifax companies
The history of your parents' saving, borrowing, and repayment performance
- 6. Multiple Choice
An installment loan is:
A credit card paid off right away
A loan paid off in a certain amount of time, in installments, or equal payments
When an item is paid for before it is picked up
Always a positive item on a credit report, even if it was not paid off
- 7. Multiple Choice
Your FICO score:
Does not depend on your payment history
Is better if you have not held credit accounts for very long
Depends most on the amounts you owe and your payment history
Depends most on new account information
- 8. Multiple Choice
You can order a copy of your credit report:
Free online from www.annualcreditreport.com once a year from each of the credit reporting companies
Free online from the Fair Isaac Corporation
Only if you have good credit because this service is not available if you are a poor risk
Only if you are applying for a credit card
- 9. Multiple Choice
To build up a good credit history, you should:
Get a Social Security Number if you do not already have one
Get as many credit cards as you can
Keep a balance near the maximum on each credit card to show full utilization.
All of these
- 10. Multiple Choice
It is important for goals to have accomplishment dates because:
It is easy to put off long term goals and a deadline keeps you focused
You will want to compare your success to other peoples' successes
Bonus money always comes with meeting personal goals
Career goals are based on interests and aptitudes
- 11. Multiple Choice
A plan for a career starting in two years:
Will give you less opportunities than a career starting right away
Means that no plans or training are necessary, since the goal is two years away
Cannot benefit from talking to a counselor or consulting a book
Will give you more opportunities than a career starting right away
- 12. Multiple Choice
No one should choose a goal based on:
Interest, likes, and dislilkes
The type of work that appeals to that person
A hobby that person puts free time into that could become a career
What other people think of the goal, who do not know the person very well
- 13. Multiple Choice
Internships:
Are always paid
Can be paid or unpaid
Can never turn into a paid position
Always last for one year
- 14. Multiple Choice
Scholarships:
Are only available once a student is enrolled
Are available for residents of every state, all religious affiliations, and academic interests
Are always applied for by the student alone without any help from the college or training program
Are never as good of a deal as loans from the student's bank
- 15. Multiple Choice
What is the name of the leading provider of student loans, an organization founded in 1972 as a government sponsored agency, which is now a publicly traded company?
Freddie Mac
Sallie Mae
Ginnie Mae
Francis Mac
- 16. Multiple Choice
A document showing that you have completed a course of study is called a:
Resume
Cover letter
Diploma
Affidavit
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