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Financial Literacy Flashcards | StudBud

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Financial Literacy

9 terms·StudBud Administration

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Questions 9

Answers

1
FAFSA stands for which of the following?
Federal Allowance for Student Aid
Federal Aid for Free Student Acceptance
Free Application for Federal Student Aid
Free Application for Federal Student Allowance
2
Which of the following can help you start establishing a positive credit history?
Getting a strong review from your boss
Applying for a loan
Opening a savings account
Getting good grades
3
You can avoid accumulating large amounts of debt by
Increasing your expenses
Paying your bills late
Limiting your borrowing
Not paying you entire bill
4
In order to avoid identity theft, you should use caution when sharing which of the following
Your credit card number
Your birthday
All of the above
Your social security number
5
A high-tech scam that deceives consumers into disclosing their personal information is called
Spamming
Phishing
A pyramid scheme
A shell game
6
An identity thief may want
All of the above
To open a credit line in your name
To use your personal information for their own gain
To steal your money
7
A credit line is
Money that you owe your lender
Money you can borrow interest-free
Money you receive as a gift
8
To increase your credit score you should only use
50% of your credit limit
80% of your credit limit
25% of your credit limit
75% of your credit limit
9
For how long does credit information typically stay on your credit report?
15 years
7 years
1 billing cycle
6 months