stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Duplicate of Financial Literacy Flashcards | StudBud
Explore
/
Duplicate of Financial Literacy
Duplicate of Financial Literacy
21 terms
·
StudBud Administration
·
10 plays
Personal Financial Literacy Review College Credit Fraud
Flashcards
21 cards
F
Practice quiz
P
Host live
L
Questions
21
Answers
1
Which of the following is Not a type of fraud?
Travel
Identity
Auction
Sweepstakes
2
A high-tech scam that deceives consumers into disclosing their personal information is called
A shell game
Spamming
Phishing
A pyramid scheme
3
At expensive colleges and universities, 1/2 to 3/4 of the students receive financial assistance
True
False
4
An identity thief may want
To use your personal information for their own gain
All of the above
To steal your money
To open a credit line in your name
5
Define Charge Off: The debt you owe is sent to a collection agency after
120 days
150 days
180 days
90 days
6
You can avoid accumulating large amounts of debt by
Not paying you entire bill
Limiting your borrowing
Increasing your expenses
Paying your bills late
7
This type of college is an institute that leads to a BS or a BA in MUSIC:
Boarding School
None of the above
Liberal Arts
Conservatory
8
A credit line is
Money that you owe your lender
Money you receive as a gift
Money you can borrow interest-free
9
A credit line is
Money that you owe your lender
Money you receive as a gift
Money a credit card company is willing to advance
Money you can borrow interest-free
10
To increase your credit score you should only use
75% of your credit limit
50% of your credit limit
80% of your credit limit
25% of your credit limit
11
FAFSA stands for which of the following?
Free Application for Federal Student Allowance
Federal Aid for Free Student Acceptance
Federal Allowance for Student Aid
Free Application for Federal Student Aid
12
Which of the following can help you start establishing a positive credit history?
Opening a savings account
Getting good grades
Applying for a loan
Getting a strong review from your boss
13
School selection is key because selective schools:
Are more generous with financial aid
Produce a higher lifetime earning potential
All of the above
Provide better employment opportunities
14
If you are broke and file for Bankruptcy you may still have to pay this debt
student loans
auto loan
medical bills
mortgage
15
In order to avoid identity theft, you should use caution when sharing which of the following
Your credit card number
Your social security number
All of the above
Your birthday
16
Mark the correct answers: The following places may NOT run your credit report
family
military
job
apartment
17
How often should you search/apply for scholarships?
1 per month
1 per week
1 per day
1 every other week
18
Define Delinquency:
Money you are entitled to receive as a refund
Money you have set up payment arrangements with
Money you make you monthly payments with
Money you still owe and haven’t paid for
19
This is the only place you can get free credit report from all 3 Credit bureaus free of charge
www.annualcreditreport.com
www.creditkarma.com
www.freecreditreport.com
www.creditsesame.com
20
For how long does credit information typically stay on your credit report?
7 years
1 billing cycle
6 months
15 years
21
Most financial aid is awarded in the form of scholarships.
True
False
