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Topic 8 - Getting Out of Financial Trouble Flashcards | StudBud
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Topic 8 - Getting Out of Financial Trouble
Topic 8 - Getting Out of Financial Trouble
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Answers
1
.Criteria needed to assess creditworthiness potential borrowers except
Borrower’s capacity to pay loan
Borrower’s attitude
Borrower’s health
2
What is effects of being a bankrupt?
Have a goog physical health,mental and emotional stabil.
Affect your reputation and be emotionally troubled
3
How many free services to the public to help them manage their money better are provided by AKPK?
2
1
3
4
4
Which one is the signs of getting into financial trouble?
using up your savings at an alarming rate
Decreasing the outstanding balance every month
Not living from pay check to pay check
5
Sign of getting into financial trouble except
spending wisely
avoid meeting people
do a part-time work
6
Who maintains credit information on borrowers in its Central Credit Reference Information ?
The Credit Bureau of Bank Negara Malaysia (BNM)
Conventional Bank
Financial Mediation Bureau (FMB)
Islamic Bank
7
What happen if you have a huge amount of debt?
The banker do not see you as a bad credit risk.
You can make a new loan to pay the debts easily
Your loan can be auto deduct from your savings anytime
Youwill beseen as abad creditrisk to any banker you may approach for a loan
8
Ignorance can cause financial trouble?
False
True
9
Which is not right about what can happen if you not mainting personal creditworthiness ?
Financial institutions will allow you to take on debt for business
Financial institution has a number of options to execute the judgement
Financial institution will foreclose on your property
Financial institution will act to repossess and sell the car
10
Bankrup can effects physical health, mental & emotional stability.
False
True
11
Going over your credit cards limit can cause a financial problem.
False
True
12
Is it The Credit Bereau of Bank Negara Malaysia (BNM) can know the credit information on borrowers?
Yes
No
13
Savings is NOT important to emergency and unexpected situation.
False
True
14
All of the below is signs of getting into financial trouble except
Savings
Loans
Bank
Expenses
15
Debt Management Agency DMP is provided to individuals who EXCEPT,
have positive net income after meeting their expenses
not under any advance legal action
is bankrup
are unable to manage their own debts
16
Amount that can be declared as bankruptcy is
RM5000
RM30000
RM10000
17
AKPK’s vision is “to make prudent financial management a way of life for all Malaysians”
True
False
18
Which one is the implication of being bankrupt?
Not knowing how much money you owe until the bills arrive
Hold any public office without the approval of the Director-General (DG
Having little or no savings to handle unexpected expenses or emergencies
19
The DMP is provided to individuals who are bankrupts
True
False
20
Role of credit counselling and debt management agency (AKPK) is set up by BNM
True
False
21
System and financial institutions do not able to check your status
False
True
