Sample Financial Literacy Exam

The maximum amount of money a person can borrow is called a credit

What type of financial aid needs to be repaid

The possibility a borrower fails to repay a loan on time will not be able to repay is known as

The Truth-In-Lending Act requires that borrowers be given

An advantage of having a credit card is that it helps a person to 

Computer scam that use spam/pop-up messages to deceive consumers in to giving their person info

An example of identity theft is when an individual 

Choose the best suggestion for building and maintaining a good credit score.

The rate imposed by the lender for the borrower to pay on a loan is known as

An arrangement to receive cash, goods or services now and pay for them in the future is called.

The grace period refers to the time

A car was damaged in a flood what type of car insurance would cover the damage to the car?

A low credit score can negatively affect a person's ability to

What is true about loans?

What can a person expect as a customer of a credit union.

Which of the following helps build a strong credit history?

When applying for a loan borrowers will need to provide information regarding their

What type of information is not found on a consumer's credit report?

A loan can be denied by a lender because of a person's 

A company that keeps files/records on people who apply for/use credit is called a